Statement of Transoil Group in connection with the introduction of the export ban of corn from Moldova:

„Transoil Group expresses deep concern about the decision of the Commission for Emergency Situations to impose a ban on the export of corn from Moldova, starting from March 1.

We believe that this decision is unreasonable and may have serious consequences for agricultural producers in Moldova.

As the year was plenteous, 3.3 million tons of corn were harvested in Moldova. Moldova’s annual domestic consumption is about one million tons of corn. In the same time, according to the data available to the Group, as of February 15, 2022, 928 thousand tons of corn were exported from Moldova.

At the moment, the country has more than a million ton of corn intended for export.

Due to the export ban, we are forced to suspend the inland purchases of corn. As a result, many agricultural producers will be left without the funds necessary for the spring field work campaign.

According to our estimates, more than 500 agricultural producers will suffer.We share the concern of the Moldovan authorities and support the reasonable measures taken because of the situation in Ukraine.

For example, we were sympathetic to the introduction of a ban on the export of wheat. We will continue to support the informed decisions of the authorities, hoping that the situation in Ukraine will normalize as quickly as possible. At the same time, we call on the authorities to prevent the parties from taking advantage of the current situation for their own purposes, acting to the detriment of agricultural producers.”