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Economy Ministry sets maximum volume of wheat exports for current season at 17.5 mln tonnes

18.08.2020 13:35 "Agro Perspectiva" (Kyiv) The Ministry of Economic Development, Trade and Agriculture of Ukraine on August 17signed an annex to the grain memorandum with grain market participants and agreed on the maximum grain export volume in the 2020/2021marketing year (MY, July-June) at the level of 17.5million tonnes of wheat and 1,000tonnes of rye.

The grain memorandum is a good example of the ability to negotiate and make balanced decisions. In our common opinion, the export of 17.5million tonnes of wheat and 1,000tonnes of rye for this marketing year is the benchmark that will preserve our internal food security. In addition, taking into account the coronavirus crisis, in the forecast balance, we have increased the volume of carry overs by half a million tonnes, to 1.7million tonnes, Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko is quoted as saying.

Read also: GRAIN. UKRAINE. RESULTS OF THE SEASON 2019/20AND FORECASTS FOR THE SEASON 2020/21

In addition, depending on weather conditions and the final data on wheat production from the State Statistics Service, the forecast grain market balances may be revised by the signatories of the memorandum in the fourth quarter.

Now the Ministry of Economy predicts the grain harvest in Ukraine this year at 72.1million tonnes.

The ministry clarified that the grain memorandum has been signed annually since 2011. The document provides for interaction of grain market participants, exchange of information, monitoring the grain market.

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