Black Sea wheat hits season's highest price second time
Infographic guide Ukrainian Agribusiness 2018/19
The Black Sea wheat export quotations FOB deep-sea ports rose sharply last week and exceeded USD 230 per ton for the second time this season, Refinitiv Agriculture reports.
This was prompted by an unexpected ban on grain exports from Romania, thus reducing the wheat supply from the region. In addition, the active formation of export shipments from Russia within the quota for the current season raises additional concerns about whether the supply of wheat on the world market will be sufficient in the coming months.
"The wheat offer is rather limited, there are very few suppliers on the market," the traders report.
Analyzing wheat shipment schedules, market operators suggest that both Russia and Ukraine may run out of export opportunities by mid-May.
As reported, the anticipation of further possible measures to curb exports also supports prices at high levels.
The Ministry for Development of Economy, Trade and Agriculture of Ukraine and grain traders signed a document which provides for a limit of wheat export from Ukraine in 2019/20, i.e. until June 30, 2020, at 20.2 mln t.