Ukraine’s Agricultural Policy and Food Ministry has revised upwards its forecast for grain harvest in 2019 from 70.8 million tonnes to 71.1 million tonnes, the ministry reported on its website. The wheat production will total 27.8 million under the ministry’s forecasts.
According to the ministry, in September the ministry and market participants will decide on acceptable balance of grain exports and will sign a memorandum of understanding over the volume of grain exports in 2019/2020 agricultural year.
“The main document of the memorandum, the so-called agreement of understanding for 2019/2020 agricultural year, will be sent to all participants of the grain market before the end of this week,” the ministry said.
As reported, Agricultural Ministry and grain market participants in August 2018 memorandum envisaged 16 million tonnes of wheat export for 2018/2019 agricultural year against 16.5 million tonnes envisaged for a previous marketing year.