September 12, 2012
As traders deplete the agreed quota aimed at ensuring stable local bread prices after a fall in 2012 wheat output, Ukraine's monthly wheat exports will fall sharply starting November or December.
"The contracts that have already been signed will be fulfilled and starting from November or December wheat exports will be 50,000-100,000 tonnes per month," Serhiy Kvasha, the head of the agriculture ministry's markets department, told reporters on Tuesday (Sep 11).
Ukraine exported 824,000 tonnes of wheat last month. In August 2011, Ukraine exported 570,500 tonnes of wheat and monthly volumes in the 2011-12 season varied from 139,000 tonnes in July to 835,000 tonnes in September.
The former Soviet republic exported 5.2 million tonnes of wheat in 2011-12 and 4.2 million tonnes in 2010-11.
Ukraine's wheat harvest fell to 16.3 million tonnes bunker weight in 2012 from 22.3 million tonnes clean weight in 2011. Bunker weight usually exceeds clean weight by 5-7%.
Analysts and traders forecast the 2012 wheat crop at about 14 million tonnes in clean weight.