Ukraine's Ministry of Agriculture has agreed with traders and agricultural associations to limit exports of wheat in the July-June 2024/25 season to 16.2 million tonnes, the ministry said on Tuesday.
The government and traders sign a memorandum annually in which the authorities promise to maintain the existing terms of trade and not to restrict exports within the agreed volume, while traders undertake not to exceed that volume.
The ministry said wheat is the only agricultural commodity export that will be restricted.
“The parties agreed to monitor the volume of grain exports on a monthly basis. And, if necessary, adjust the export ceiling in January 2025,” a ministry statement said.
In addition, Ukraine exported 18.3 million tonnes of wheat in the 2023/24 season after harvesting more than 22 million tonnes.
This year, according to the ministry, the 2024/25 wheat harvest could shrink to 21.8 million tonnes due to a heatwave this summer.
Wheat exports, for example, reached 3.59 million tonnes on August 30, the ministry reported last week, compared with 1.06 million tonnes on the same date in 2023.
Source: Pavel Polityuk | Notícias Agrícolas
