Ukraine traders agree to limit wheat exports-report
(Adds background)
KYIV Feb 17 (Reuters) – Ukrainian grain traders have
agreed to limit wheat exports to 1.7 million tonnes in
February-July following a request from the government which is
concerned about supply to the domestic market, Ekonomicheskie
Izvestia newspaper reported on Friday.
It quoted traders as saying that only 800,000 tonnes of
wheat would be exported by March and the agreed cap will limit
total wheat exports in the 2011/2012 season to 4.8 million
tonnes, or a half of what traders had planned to ship abroad.
Ukraine’s Farm Ministry was not immediately contactable for
comment.
Ukraine expects to lose a large share of its winter grains
this year due to bad weather.
The ministry said this week that poor weather during sowing
and wintering had damaged up to 3 million hectares of winter
crops, which could be reseeded this spring. Earlier this year it
said estimated the damaged area at 2.5 million hectares.
The ministry has said farms had sown 8.5 million hectares to
winter crops and that a severe drought in July-November had
prevented seeds in an area of 1.5 million hectares from
sprouting.
According to the data provided by analysts, about 33 percent
of sprouted crops, mostly winter wheat, are in a poor state.
Ukrainian traders said last week the government, worried
about a possible fall in the 2012 wheat harvest, could limit
exports of wheat in a bid to build up high grain
stocks.
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