December 11, 2012


Ukraine's wheat exports nearly stop


President of Ukrainian Agrarian Confederation, Leonid Kozachenko announced that wheat export trading from Ukraine almost stopped.


According to him, there is only one contract remained unfulfilled - "NIBULON" on wheat exports to Jordan. To date the agricultural enterprise coordinates with the Government of Ukraine all opportunities of its execution.


Besides, Kozachenko did not exclude the possible exports of nearly 50,000 tonnes of wheat until the end of the current marketing year, by the companies which hedge their risks on the Chicago Mercantile Exchange.


As a reminder, previously the Ministry of Agrarian Policy and Food of Ukraine and grain traders agreed to support unhindered exports of 5.5 million tonnes of wheat from July-December of 2012. The Ministry planned to achieve the reporting volume and discuss the future of wheat exports with the market participants, not excluding the possible imposition of limitations.


Later, Ivan Bisyuk, First Deputy Minister of Agrarian Policy, said that the updated supply and demand balances of grains allowed increasing the specified volumes of wheat exports, in terms of securing the necessary supplies for the baking industry.


According to forecasts of the Ministry of Agrarian Policy, in 2012 the grain harvest in Ukraine is forecasted to be nearly 46.2 million tonnes, as opposed to the record level of 56.7 million tonnes in 2011.


The Ministry expects that in the current season the country will supply 21-22 million tonnes of grains on foreign markets.