The National Bank has reduced the terms for the return of foreign exchange earnings for exporters of agricultural products from 180 to 90 days

The National Bank of Ukraine by Resolution No. 145 dated 10.11.23 reduced the deadline for the return of foreign currency proceeds from operations on the export of agricultural goods from 180 to 90 calendar days.

The resolution enters into force on November 11 and concerns goods with the following UCT codes: 1001 (wheat), 1002 (rye), 1003 (barley), 1004 (oats), 1005 (corn), 1201 (soy), 1205 (rape), 1206 00 (sunflower seeds), 1507 (soybean oil), 1512 (sunflower oil), 1514 (rapeseed oil), 2306 (cake).

Prior to that, the deadline for settlements for operations carried out after April 5, 2022 was 180 calendar days.

"The decision was adopted at the request of the Cabinet of Ministers in order to strengthen the discipline of compliance with the deadlines for settlement of export operations by foreign exchange entities and to ensure the return of foreign exchange earnings within the specified time," the NBU said.

We will remind that according to the estimates of the National Bank, Ukrainian exporters of agricultural products left about 3 billion dollars of their income abroad after the full-scale invasion of the Russian Federation.