February 17, 2012

Ukrainian traders halt wheat buys from inland grain elevators

As of to date, most export-oriented firms in Ukraine stopped buying wheat volumes from inland grain elevators, according to experts of APK-Inform Agency.

According to market participants, the decision was caused by the reaction to a request from the Ministry of Agrarian Policy and Food of Ukraine to refrain from exporting of wheat to clarify the situation with the further resowing of winter crops areas.

It should be noted that while commenting the situation, some traders said that acceptance of such decision was forced by the fears that in the terms of noncompliance of the request, the market may face imposition of an unofficial export regulation.