December 18, 2008

Ukraine urged to promote grain exports

Ukraine's UZA grain association is urging the government to promote exports in the second half of the 2008-09 year to reduce the risk of unprecedented high grain stocks and losses to farmers.


UZA said unfavourable market conditions may reduce exports this season and ending stocks may reach a record 20 million tonnes, nearly four times more than last season.


The 2008 grain crop had reached a record 54 million tonnes, up from 29.3 million tonnes in 2007. Ukraine's annual grain consumption is 26 million tonnes.


UZA said exports may total 12 million tonnes in the last two quarters of 2008.

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