Ukrainian feed wheat has been sold to Malaysia at $275 a tonne c&f, European traders said on Monday. Shipment was in containers and tonnage was unknown. The deal provided new indications that Ukraine is rapidly expanding sales into Asia after the country's president signed a law on October 19 cancelling export taxes on wheat and corn.
"Because of trade imbalances, container freight is very cheap on sailings from Europe to Asia which could help Black Sea grains to gain quick footholds in Asia with relatively small purchases," another dealer said. "I think we are going to see more deals like this." A Ukrainian trader said Australia is traditional a major feed wheat supplier to Malaysia. He said the Malaysian price looked aggressively low. Ukraine exported 4,400 tonnes of wheat to Malaysia in August-September 2011, up from only 1,245 tonnes in the 2010/11 season when a poor crop restricted the country's exports.
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