Baku, Azerbaijan, Aug 29
By Fakhri Vakilov -Trend:
Following the results of the trading on the Uzbek Commodity Exchange (UZEX) on August 27 this year, business entities purchased over 20,000 tons of wheat worth over 38 billion soums through exchange trading, Trend reports with reference to UZEX.
Entrepreneurs purchased wheat using the privilege, according to which 20 percent of the value added tax is returned to entrepreneurs when they sell wheat or flour purchased through the exchange for export.
Thus, entrepreneurs purchase wheat through the stock exchange at virtually 1.61 million soums per ton, excluding VAT, with its starting price of 1.932 million soums per ton.
These privileges have been granted since August 12 of the current year, when the domestic food wheat intended for further export began to be regularly put up for open exchange trading at UZEX.
Wheat sellers are enterprises that are part of the Uzdonmahsulot Joint Stock Company.
Currently, 22 standard contracts for three classes of wheat with lots of one ton each are included in the quotation list of the exchange. Terms of delivery are EXW (pickup from the seller’s warehouse).
These products are sold through transparent electronic exchange trading to a local entrepreneur on a preferential basis, subject to their further export.
($1= 9406.45 UZS on Aug 29)
---
Follow author on Twitter:@vakilovfaxri