KIEV, UKRAINE — Ukraine, a leading wheat exporter, will agree on an export cap with traders for the 2020-21 marketing year, Ukraine Economy Minister Ihor Petrashko said in a May 5 televised briefing.
He said the country would aim for a balance between foreign currency earnings and food security with the coronavirus (COVID-19) pandemic, which began in early 2020, expected to continue throughout the year.
“In July, when we have a new crop, we will analyze and make a decision on how we want to balance the 2020-21 marketing year,” he said. “A balance should be maintained between food security, the absence of shortages in shops, the normalization of prices and, at the same time, support for producers so they can earn and bring foreign currency into the country.”
For the 2019-20 marketing year, which ends June 30, the government had agreed that wheat exports should not exceed 20.2 million tonnes. Ukraine has exported 19.2 million tonnes of wheat thus far.
Its overall grain production in 2019-20 was a record 75.1 million tonnes and total exports could reach an all-time high of 52 million to 55 million tonnes.
The Ukrainian government had considered limiting corn exports but last week decided against the idea.
Other Black Sea countries, such as Russia, Romania and Kazakhstan, have restricted some grain exports due to the COVID-19 pandemic.
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