KIEV, UKRAINE — Ukraine announced on Oct. 3 that is has scrapped its formal cap on wheat exports in the July 2019 to June 2020 marketing year and will instead monitor marketing conditions on a monthly basis to ensure an adequate domestic supply.
“This year we have agreed not to fix a specific volume of grains,” said Taras Vysotsky, deputy minister of Economy, Trade and Agriculture. “However, every last Monday of the month we will hold a joint meeting with market representatives and evaluate the indicators.”
Ukraine, which is projected to be the world’s sixth largest wheat producer and fifth biggest exporter in 2019-20, increased grain exports by 49% to 13.59 million tonnes in the first three months of the 2019-20 marketing year, according to the agriculture ministry. That included 8.63 million tonnes of wheat, 61% more than the same period in 2018-19.
In 2018-19, Ukraine exported a record 50 million tonnes of grain.
Ukraine is forecast to export a record 19.5 million tonnes of wheat in 2019-20, which is five times more than it exported 10 years ago.
