Ukraine to ban wheat exports.

By bne IntelliNews October 22, 2012
Traders said on Friday, Oct 19, that Ukraine's agriculture ministry would ban exports of wheat from Nov 15 after bad weather hit the harvest, pushing up global wheat futures prices even though traders had expected the move, writes Reuters. The ministry, however, is sticking to its earlier formula of allowing traders to export up to a total of 5mn tonnes of wheat in the current season, the trading sources said. Wheat shipments this season may reach 5.3mn metric tonnes by Nov 15-20, a point that threatens to exhaust the countrys exportable surplus, First Deputy Agriculture Minister Ivan Bisyuk said. Shipments have already reached 3.6mn tonnes since the marketing year began July 1, he said. The U.S. Department of Agriculture has estimated that Ukraines total exports in the 2012-13 season would only reach 4mn tonnes after drought curbed production. As of Oct 19, agricultural enterprises harvested 39.2mn tonnes of grains and grain legumes. The crops were harvested from 13.3mn hectares (90% of the expected) within average yield of 29.5 centners per hectare. Maize for grain was harvested from 3mn hectares (68%), 12.9mn tonnes of grain was threshed and the yield is 42.8 centners per hectare. Agrarians also harvested 153,000 tonnes of rice from 23,000 hectares (90%) within the yield of 65.9 centners per hectare.

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