Ukraine's grain exports soar after lifting of quotas

Ukraine's grain exports increased dramatically following the lifting of grain export quotas at the end of May 2008, the USDA's Foreign Agricultural Service (FAS) said.

Ukrainian grain exports for May totaled 140,000 tonnes for wheat; 250,000 tonnes for barley; and 464,000 tonnes for corn.

While the total exports for the period after the quota was lifted, were 428,000 tonnes for wheat; 632,000 tonnes for barley; and 1.13 million tonnes for corn.

The Ukrainian government said that new grain export quotas would not be introduced during the 2008-09 marketing year.

One reason the country has allowed exports after restricting it with quotas early this year was because of the bigger-than-expected harvest.

The country's grain stocks for June 2008 are 44 percent higher than in June 2007, according to inland silo industry information. Silos are said to be at full capacities, causing silo owners to expect difficulties accommodating grain from the forecast incoming record high crop.

The capacity of inland silos is estimated to be approximately 25-28 million tonnes. Total 2007-08 grain stocks amounted to 6.7 million tonnes on June 1.