Ukraine: 57% of the wheat export quota exhausted

Ukraine is expected to have exhausted most of its wheat export quota for 2020/21 in March or April 2021, traders said on Friday. Traders and the government have agreed that the volume of wheat available for export this season (July 20 to June 21) must not exceed 17.5 million tons. Data from the Ministry of Economic Affairs shows that Ukraine has exported 10 million tons of wheat so far this season, or around 57% of the quota. Traders believe that another 1 million tons of wheat will be exported in the coming weeks and at least 3 million tons of wheat have already been sold for future exports.
"We can export 100,000 tons of wheat a month from March," said a trader. "Our wheat is already too expensive."
Agricultural advisory firm APK-Inform said this week that high demand from importers and the slow pace of winter wheat sowing pushed Ukrainian milling wheat prices to a 21-month high of $ 255 per tonne of FOB Black Sea.
As of October 19, the farms had sown winter crops on an area of 6.2 million hectares, which corresponds to 76% of the forecast.The area covers 4.6 million hectares of winter wheat or 76% of the expected area.
Ukraine's total grain exports in the current July-June season fell by almost 13% to 14.8 million tons, according to data from the Ministry of Economic Affairs on Friday.
Ukraine accounts for around 16% of global grain exports and sold around 57 million tons of grain to foreign buyers in the 2019/20 season.
The Ministry of Economic Affairs assumes that the grain harvest in 2020 will decrease from around 75 million tons in 2019 to around 68 million tons due to the bad weather. The National Bank announced on Thursday that the harvest this year was 67 million tons.
The government said exports could fall to 47.4 million tons in 2020/21 due to a weaker harvest.
Hansa Terminhandel GmbH
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