October 4, 2012

Ukraine thrashes over 33 million tonnes grain

Over 33 million tonnes of Ukrainian grain were thrashed on the area of 12 million hectares, which is 80% of the forecast.

Agrarian Policy and Food Minister Mykola Prysiazhniuk told a briefing following the government's meeting, the UKRINFORM correspondent reports.

"Currently, grain was harvested on 12 million hectares, which is 80% of the forecast. According to our calculations, agricultural producers thrashed over 33 million tonnes of grain," the official informed.

In particular, according to him, corn was thrashed to the amount of 7.2 million tonnes, buckwheat - 225,000 tonnes, millet - 162,000 tonnes, rice - 99,000 tonnes, sunflower seeds - 5.8 million tonnes, soy - 1.3 million tonnes.

Prysiazhniuk also reminded that 25.4 million tonnes of early grain cultures were gathered, out of these, 15 million tonnes of wheat. According to him, internal needs in bread grain make up six million tonnes, and thus, this year yield is quite enough to ensure the country's food security, the Minister is convinced.

The current year yield at the level of 45-46 million tonnes is the third index over the years of independence, he stressed.

Answering questions of journalists, Prysiazhniuk noted that trade in Ukrainian wheat futures at the Chicago Mercantile Exchange has not justified mutual hopes "did not reach the level forecasted by us and the Chicago Mercantile Exchange," he stated.

The Minister also said that since October 20, a working group of the Chicago Mercantile Exchange specialists will arrive in Ukraine to study reasons of such a low trade activity in Ukrainian futures.

To remind, the Chicago Mercantile Exchange introduced a new future since June 6 - wheat, FOB, the Black Sea.