Ukraine exported 23% of wheat volume agreed in MoU
Wheat export from Ukraine in July-August 2024 totalled 3.8 mln t, reaching 23% of the agreed ceiling of 16.2 mln t for 2024/25 MY, the ASAP Agri analysts report.
The pace is quite high compared to 18% of wheat shipments in the first two months of 2021/22 MY, when the memorandum was last in force, analysts say.
The current rate of wheat exports is 87% higher than in the corresponding period last year.
In May, the Ministry of Agrarian Policy and Food of Ukraine offered wheat producers and processors to consider returning to the practice of signing a joint memorandum between the Ministry and market participants on the volume of wheat exports to ensure the domestic market supply.
On July 19, acting Minister of Agrarian Policy and Food Taras Vysotskyi and grain market operators signed a Memorandum of Understanding for 2024/25.
The Memorandum was last signed on July 5, 2021. According to the document, the total volume of wheat exports of all classes in the 2021/22 season was limited to 25.3 million tons.
