Economy Ministry and associations consider corn export limit
The Ministry for Economic Development, Trade and Agriculture of Ukraine elaborated Annex 2 to the Memorandum of Understanding between the Economy Ministry and grain market participants proposing to limit export shipments of Ukrainian corn in the current MY (2019/20).
"During the online meeting, a draft Annex to the Memorandum of Understanding between the Economy Ministry and grain market participants was presented. It regards the maximum volume of corn exports of harvest 2019 until August 31, 2020, at no more than 29.3 mln t. According to the proposed Annex, the review of the corn export limit may be done after June 30, 2020," the Economy Ministry confirmed to Latifundist.com.
Learn more: TOP 10 Corn Producing Countries in 2019
The government plans to review the ceiling for grain export of harvest 2019 after the 2019/20 season ends — after June 30, 2020. Limits will be reviewed not only for 2019/20 (July 1, 2019 – June 30, 2020) but for a period of 2020/21 as well (July 1, 2020 – August 31, 2020).
On Monday, April 27, market participants and the Economy Ministry are planning to discuss in detail the signing of this annex to the Memorandum, the Ukrainian Grain Association (UGA) informs.
As a reminder, corn export from Ukraine as of April 22 reached 25.2 mln t, 11% or 2.66 mln t more y-o-y.
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. The Government says it is ready to curb exports in case the limit is exceeded.