October 6, 2010

Grain trading stops in Ukraine

Trading activity on Ukraine's local grain market almost stopped due to the appeared announcements of the possible assignment of grain export quotas, Ukrainian Agrarian Confederation President stated on October 5.

According to President Leonod Kozachenko, the market environment does not allow to provide grain purchases.

At the same time, Kozachenko added that in the current marketing year Ukraine is able to export 13-14 million tonnes of grains, which allows to accumulate three to four million tonnes of grain carry-over stocks as of July 1, 2011. The President of Ukrainian Agrarian Confederation expressed the concern that if the carry-over stocks become higher, grain prices will fall during the harvesting campaign.

Besides, Kozachenko informed that grain export trading in the ports was almost unblocked, and the delayed vessels with grain cargoes received the possibility to leave the ports.