Members of Parliament (Oleksandr Haydu, Serhiy Labasiuk, Maryna Nikitina, and others) have registered Bill No. 9146 on insurance of agricultural exports during martial law.
It is noted that since the beginning of russia's full-scale invasion, grain exports have overtaken ferrous metals and taken first place. "Agricultural products are currently the main export source of foreign exchange for Ukraine, and the global demand for domestic products significantly strengthens support for any Ukrainian initiatives within the framework of global food security," the explanatory note says.
At the same time, due to the war, agricultural producers are not always able to meet the delivery deadlines, which entails the imposition of penalties, contractual fines, and additional logistics costs. The additional financial burden falls solely on the shoulders of the farmer. According to the Law of Ukraine "On Financial Mechanisms for Stimulating Export Activities", most agricultural products (including raw material processing products) are prohibited from insurance.
For the duration of the martial law and for another year after its termination/cancellation, MPs propose to insure exports of wheat, soybeans, rapeseed, oil, oilcake, and meat against downtime, delay, and late performance of the contract caused by the war. According to the document, producers will be able to reimburse up to 85% of the sum insured.
Such insurance will be provided by the Export Credit Agency (a government-authorised agency) within its authorised capital, as well as by reinsuring investments with foreign insurance companies. Currently, the ECA can only insure high value-added goods.