Ukraine wheat prices firm on smaller harvest
- Ukraine's economy ministry has said that drought during the sowing and wintering was likely to cut this year's wheat harvest to about 23 million tonnes from 28.3 million tonnes in 2019.
KYIV: Ukrainian wheat export prices have risen by up to $7 a tonne over the past two weeks because of expected decreases in the 2020/21 harvest in Ukraine and other exporting countries, APK-Inform agriculture consultancy said on Monday.
Milling wheat from the new 2020, harvest was quoted at $178 to $188 a tonne CPT (Carriage Paid To) Black Sea as of June 15, the consultancy said in a report.
"Maximum prices for milling wheat are increasing most actively due to the prospect of a decrease in its share of the overall harvest," APK-Inform said.
Analysts have said that severe drought followed by torrential rain could affect wheat quality this year.
APK-Inform said that feed wheat prices had also risen to between $168 and $178, from $160 to $164 in early June.
Ukraine's economy ministry has said that drought during the sowing and wintering was likely to cut this year's wheat harvest to about 23 million tonnes from 28.3 million tonnes in 2019.