Ukraine Restricts Food Wheat Export to 1.2 MMT in Jan-June Period

The Ukrainian government and traders have agreed that no more than 1.2 million tonnes of Ukrainian milling wheat will be exported between Jan. 1 and June 30.The volume will fulfill all their export obligations in which sales of milling wheat will not exceed 900,000 tonnes in the first quarter in 2015 and 300,000 in the following three months. They have taken this decision as Ukraine wheat demand will increase and their domestic prices as well as Russia has restrained their wheat export. Ukraine harvested a record 24.1 million tonnes of wheat in 2014 and its domestic consumption does not exceed 12 million tones therefore the agreed memorandum will not allow wheat exports to exceed 12.8 million tonnes this season, which runs from July to June as they have exported around 8.5 million tonnes of wheat so far this season.