July 11, 2012

Ukraine's drop in grain prices halts

The drop in Ukraine's average grain prices experienced for several weeks in a row in the period from June 29-July 6 slightly halted, according to the Agrarian Policy and Food Ministry of Ukraine.

The ministry said that average purchase prices of third class wheat remained at UAH1,708 (US$211) per tonne, and that for sixth class wheat – UAH1,558 (US$192) per tonne.

The price of fourth class wheat fell by 1%, to UAH1,633 (US$202) per tonne and the price of corn also was down by 1%, to UAH1,615 (US$199) per tonne. Prices of barley grew by 1% in a week, to UAH1,643 (US$203) per tonne.

The prices of sunflower seed continued falling (by 1%), to UAH3,798 (US$369) per tonne.

As reported, Ukraine is conducting a harvesting campaign. Traditionally prices of grain fall in this period. However, experts say that now farmers are not in a hurry to sell their grain stocks due to the uncertainty with the harvest and droughts.

According to recent data from the ministry, Ukraine this year could harvest 45.3 million tonnes of grain, compared to the record 56.7 million tonnes seen in 2011.