Ukraine’s Economic Development and Trade Ministry, Agriculture and Food Ministry, Infrastructure Ministry and Income and Tax Ministry, under an order of Prime Minister Mykola Azarov, will hold preparations and consultations on the Black Sea grain pool project.

"We have discussed with Prime Minister of Kazakhstan Serik Akhmetov the possibility of creating a grain pool. Russia has expressed its readiness to take part in this project. The export potential of the three countries is currently around 70 million tonnes of grain," the Ukrainian Premier said on Thursday.

Azarov said that a unified position of the three countries in the grain market would help reduce the risks of price fluctuation or generally avoid losses from market fluctuations.

According to the Prime Minister’s instructions, the aforementioned four ministries are to hold consultations with the Russian and Kazakh partners on this matter.

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