Ukraine wheat prices rise as 2020/21 harvest expected to fall
- Ukraine's economy ministry has said that drought during the sowing and wintering was likely to cut this year's wheat harvest to around 23 million tonnes from 28.3 million tonnes in 2019.
- The ministry has also said it expects that wheat exports could
KIEV: Ukrainian export wheat prices have risen by $3-$4 per tonne over the past week in response to expectations of a decrease in the 2020/21 harvest in Ukraine as well as in other exporting countries, APK-Inform agriculture consultancy said on Wednesday.
Milling wheat from the new 2020, harvest was quoted at $172-174 per tonne CPT (Carriage Paid To) in small Ukrainian Black Sea ports as of June 3 compared with around $168-170 a week earlier, the consultancy said.
The consultancy said feed wheat prices had also risen to $160-164 per tonne from $159-161.
Ukraine's economy ministry has said that drought during the sowing and wintering was likely to cut this year's wheat harvest to around 23 million tonnes from 28.3 million tonnes in 2019.
Analysts forecast that unfavourable weather could also cut the share of food wheat in the harvest.
The ministry has also said it expects that wheat exports could fall to 14.9 million tonnes in the 2020/21 July-June season from 20.5 million tonnes in 2019/20.
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