KYIV: Ukrainian wheat export prices have lost around $10 a tonne so far this week due to restrained demand from importers and an increase in the attractiveness of European grain, APK-Inforn agriculture consultancy said on Thursday.
The expected improvement in the state of winter crops in the United States and the Black Sea region due to the forecast of heavy rainfall was an additional factor, it said in a report.
The government has said favourable weather could help farmers to increase their grain crop to 75 million tonnes this year from 65.5 million tonnes in 2020. It said the exports could reach 53 million tonnes in the 2021/21 season.
Bid prices for high-quality soft milling wheat decreased to $255 to $263 a tonne CPT (carriage paid to) Black Sea port as of March 17, from $265-$272 at the weekend, it said.
Feed wheat fell to $252-$260 CPT Black Sea from $261-$268.
Ukraine sold about 57 million tonnes of grain to foreign buyers in the 2019/20 season, while the government has said exports could decline to 45.4 million tonnes in 2020/21 because of a weaker harvest.
Ukraine’s grain exports have fallen by 23% to 33.4 million tonnes so far this season as of March 15. Traders sold 13.9 million tonnes of wheat, 14.9 million tonnes of corn and 4 million tonnes of barley, the economy ministry said. Exporting 13.9 million tonnes of wheat, traders have used more than 79.4% of the total export quota of 17.5 million tonnes imposed for the whole 2020/21 July-June season.
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