Wheat export from Ukraine in 2020/21 limited, Economy Ministry and grain market players signed annex to MoU

The Ministry for the Development of Economy, Trade and Agriculture of Ukraine and grain market participants signed the Annex to the Memorandum of Understanding on 17 Aug setting the limit for wheat export from Ukraine in the 2020/21(July-June) season at 17.5 mln t, rye 1 thou. t.

"The grain memorandum serves as a fine example of the ability to negotiate and make balanced decisions. Our general assessment is that the export of 17.5 mln t of wheat and 1 thou. t of rye in this marketing year is the benchmark that will secure both domestic food security and export potential. In addition, given the coronacrisis, in the projected balance we increased the volume of carryovers by half a million tons up to 1.7 mln t," commented Minister for the Development of Economy, Trade and Agriculture of Ukraine Ihor Petrashko.

Along with, depending on weather conditions and final data on wheat production volumes from the State Statistics Service, forecast balances of the grain market may be reviewed in 4Q. As reported, the ministry estimates the grain harvest at 72.1 mln t.

As a reminder, the MoU was signed on 1 July.

Previously reported that the bulk yield of wheat in Russia is projected at 81 mln t in 2020.

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