Spoiled corn from the state corporation has fallen in p…

The State Food and Grain Corporation of Ukraine has once again put up for auction in Odesa region corn that does not meet state standards.

According to the Prozorro.Sale system, the new auction was scheduled for January 6, but there were no bidders.

The starting price of corn this time was 15 million 990 thousand hryvnias, compared to 17 million 220 thousand hryvnias during the previous auction. The format remained unchanged - a hybrid Dutch auction.

The 3rd class corn of the 2021 harvest was found to be free of pests, with no excessive levels of weed and grain impurities and a color and smell not typical of healthy grain. Since the corn grain did not meet the requirements of the DSTU, it cannot be used for food or feed purposes, but can be used for technical purposes. The total amount is 2.50 tons.

A hybrid Dutch auction is a price reduction auction, during which the initial value of a lot is reduced step by step until one of the participants stops the reduction. Then comes the stage of closed bids: other participants can offer a price higher than the fixed price. The winner is the one who offered the highest amount. However, the bidder who stopped the decline in the first stage has the right of last resort and can outbid the opponent in the third stage.

It is worth noting that an auction in this format starts even without participants, as it is possible to join after the start. It is used to sell assets whose market value is difficult to determine: overdue loans, property of bankrupt banks, or in the case of unsuccessful English auctions.

A previously unfinished multi-storey building in Zatoka, Bilhorod-Dnistrovskyi district of Odesa region, was once again unable to be sold and was put up for auction at a reduced starting price.

Кирило Бойко

Spoiled corn from the state corporation fell by a million

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