July 20, 2012

Ukraine halts restrictions on grain exports

Ukraine will not impose restrictions on grain exports and recommended that exporters sell grain when its price is optimum, as confirmed by Ukrainian Prime Minister Mykola Azarov.

Azarov told a news conference about this during his visit to Kherson Region, an UNIAN correspondent reported.

"I would like to stress it once again: the government will not impose any restrictions on grain exports. And we advise peasants and exporters to carefully watch market prices and sell grain when prices are optimum," Azarov said.

He also said that the world was facing a grain situation which was not very favourable due to bad weather conditions in the countries which are big grain exporters.

"The situation in the world is not very favourable. You know, there is a very serious drought in the USA, Russia has got problems with crops, Kazakhstan has got problems with crops and milling wheat prices have risen by almost US$100 recently," he said.

At the same time, he said that despite the rise in price, grain prices in Ukraine would remain stable. In particular, due to the fact that Ukraine has sufficient grain reserves.

This year's crops will be the average compared with last 10 years' figures, Azarov said.