KIEV, UKRAINE — Due to uncertainty surrounding wheat exports from Russia, prices for Ukrainian wheat exports have risen $3 per tonne in the last week, Reuters reported, citing an analyst from APK-Inform.
Prices for Ukrainian 12.5% protein wheat reached $263 per tonne FOB Black Sea at the end of the week.
The nation plans to export 17.5 million tonnes of wheat in the 2020-21 July-June season. Ukraine’s economy minister has cut grain export forecasts to 44.175 million tonnes from a previous forecast of 44.823 million tonnes, Reuters reported.
Russia decided earlier this month to impose a wheat export tax for Feb. 15-June 30 in order to stabilize export prices.