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Ukraine postpones decision on grain quota
Journal Staff Report

KIEV, Aug. 18 – Ukraine on Wednesday postponed for seven days its decision on grain export quotas, with government officials arguing more time was needed to investigate the issue.

Ukraine, the world’s third-biggest grain exporter, was planning to slap a 2.5 million metric ton quota on grain exports between Sept. 1 and Dec. 31, half of what had been earlier discussed.

The plans for more restrictions come as Russia, another major exporter of grain, has temporarily banned exports after its grain harvest was affected by adverse weather.

World grain prices could rise further if Ukraine moves to restrict the exports at 2.5 million metric tons, including 1.5 million metric tons for wheat and 1 million metric tons for barley, grain traders said.

Wheat and barley prices remain high until Kiev makes its position clear, the traders said.

Serhiy Melnyk, deputy agriculture minister, said the decision on whether to impose quotas was delayed, adding that discussions will continue over the size of quotas. “We will consider the issue at the next cabinet meeting,” he said.

The next weekly meeting of the cabinet is expected on August 25.

The protectionist measures adopted by Russia and considered by Ukraine have fuelled fears of a repeat of the 2007-2008 food crisis when countries from India to Argentina imposed trade restrictions.

The World Bank has urged countries to refrain from protectionist measures, saying they could trigger a food crisis.

Ukraine exported 21.2 million metric tons of grain in 2009-2010 marketing season to become the world’s third largest grain exporter after the U.S. and the EU.

Russia, which exported almost as much grain as Ukraine, earlier this month suspended its grain exports completely through the end of Dec. 31 due to drought that had killed much of its grain crops.

Ukraine exported 2.7 million metric tons of grain since July 1, when the new 2010-2011 marketing season had begun, including 1.2 million metric tons of barley and 1.1 million metric tons of wheat.

The government was expecting Ukraine to produce about 40 million metric tons of grain in the 2010-2011 marketing season, which would “completely meet its domestic demand” and allow exports of 17 million metric tons, Deputy Prime Minister Serhiy Tyhypko said on Aug 2.

But experts have recently reduced the forecast.

Ukraine was expected to export about 15 million metric tons in 2010-2011, according to UGA, which reduced its earlier forecast of between 16 million tons and 18 million tons. (tl/ez)




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  28.03.2024 prev
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RUR 0.425 0.422
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