The Ministry of Agrarian Policy and Food and grain traders have signed a memorandum to fix forecasted volume of wheat exports in the 2018/2019 marketing year (MY, July-June) at 16 million tonnes against 16.5 million tonnes in the previous MY.
The memorandum was signed on Friday, August 10, an Interfax-Ukraine correspondent said.
According to the appendix to the memorandum, exports of food wheat, which can be exported this MY, is determined at 8 million tonnes, while coarse wheat exports were fixed at 8 million tonnes.
Such document has traditionally been signed since 2011 between the Ministry and the market operators at the beginning of the season.
First Deputy Minister of Agrarian Policy and Food Maksym Martyniuk said during the signing ceremony that the figures could be adjusted taking into account the quality and volume of wheat.
As reported, the ministry raised its forecast for wheat harvest by one million tonnes, to 24 million tonnes, including 13 million tonnes of food wheat. According to the ministry’s preliminary estimates, the ratio of food/coarse wheat in 2018 will be 55/45. The domestic market demand for food wheat is estimated at 4.5 -5 million tonnes.
Ukraine in 2017/2018 MY exported 39.4 million tonnes of grain, including 17.14 million tonnes of wheat.