Photo from UNIAN
The ministry and the market players are expected to sign a memorandum of understanding today, August 10.
The Agrarian Policy and Food Ministry of Ukraine and grain exporters have agreed on wheat export volumes in 2018 at 16 million tonnes, including 8 million tonnes of food-grade wheat, and 8 million tonnes of fodder wheat.
The ministry and the market players are expected to sign a memorandum of understanding today, August 10, according to the press service of the European Business Association (EBA).
As UNIAN reported earlier citing Bloomberg, wheat prices spiked, reaching a three-year high, and then shot back down after Ukraine sowed confusion in the market with conflicting statements on possible export limits.
Read alsoUkraine has opportunity to boost grain exports to Saudi – media
Ukraine, the world's fifth-largest exporter, first issued a statement on Facebook saying it plans to limit shipments of milling wheat after a drought wrecked European crops. The ministry later sought to clarify its position, explaining that it's not discussing "strict limits" and will discuss projected shipment volumes with traders.
Ukraine's milling-wheat supplies total about 11 million tonnes, with domestic demand pegged at about 5 million tonnes, according to the Agriculture Ministry.