Ukrainian wheat export prices have risen to this season's high amid strong demand from foreign buyers, APK-Inform agriculture consultancy said on Thursday.
The consultancy said in a report that export bid prices for 12.5% protein milling wheat as of April 16 rose to $227-$232 per tonne FOB Black Sea with delivery in late April, the highest level this season.
The previous record was in late January when prices were at $226-$231 per tonne FOB, APK-Inform said.
"The resumption of growth in wheat prices was caused by a fairly high demand of importers," the consultancy said.
Ukraine's wheat harvest largely exceeds domestic consumption, but last month Ukrainian bakers and millers asked the government to limit grain exports to maintain bread prices.
Ukraine is one of world's top grain exporters but a senior government official said on Wednesday the country was ready to ban wheat exports if sales exceed limits agreed with traders.
Ukraine has exported around 18 million tonnes of wheat so far in 2019/20, leaving an additional 2 million tonnes available for export over the rest of this season that runs until June 30, in line with a memorandum signed with traders.
Disruptions to the supply chain caused by the coronavirus prompted neighbouring Romania to ban cereal exports to non-European Union destinations.
Last week Russia agreed to limit grain exports to 7 million tonnes from April to June to conserve supplies for the domestic market during the coronavirus outbreak.
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