Ukraine may cut wheat exports ceiling – experts

The Ministry Ministry for Development of Economy, Trade and Agriculture in the new marketing year (MY, July 2020 - June 2021) may limit wheat exports from Ukraine to the level of 17.2 million tonnes, while this season the maximum volume of wheat exports was set at 20.2 million tonnes .

That's according to Ukragroconsult consultancy, referring to information from traders.

"The Ministry for Development of Economy, Trade and Agriculture of Ukraine proposed to set a limit on wheat exports at the level of 17.2 million tonnes in 2020/21 MY, which will start on July 1," the statement said.

As UNIAN reported earlier, the Ministry for Development of Economy, Trade and Agriculture of Ukraine along with exporters plans to approve the volume of the new crop's grain exports in the 2020-2021 marketing year (MY, July 2020 - June 2021) and sign the corresponding memorandum on July 1.

Read alsoUkraine's grain, legumes reserves down by 9%, to over 4 mln tonnes as of June 1

Ukraine had approved the wheat exports ceiling in MY 2019-2020 at 20.2 million tonnes.

According to the head of the Ukrainian Grain Association Mykola Horbachev, in the current marketing year, Ukraine earned $9.6 billion on grain supplies, having become world's second country in terms of foreign exchange earnings from grain exports.

The economy ministry said the 2019 harvest in Ukraine amounted to 75 million tonnes, of which 54 million tonnes were intended for export.

The ministry predicts the 2020 grain and legumes harvest in Ukraine at 68 million tonnes, and oilseeds – at 20 million tonnes.