KIEV, UKRAINE — Weakened demand and a forecasted strong 2021 wheat harvest Ukraine’s wheat export prices decline, Reuters reported citing the APK-Inform agriculture consultancy.
The Ukrainian government expects good weather to help increase the 2021 grain crop to at least 75 million tonnes compared to 65 million tonnes in the previous year.
According to APK-Inform, asking prices for high-quality soft milling wheat slipped to $245 to $251 from $254 to $260 a tonne FOB Black Sea Port a week ago.
In the 2019-20 season Ukraine sold 57 million tonnes of wheat but exports could decrease to 45.7 million tonnes in the 2020-21 season.
Ukraine’s grain exports have declined 23% to 35.7 million tonnes this season and traders have used 82.3% of the total wheat export quota of 17.5 million tonnes imposed for the 2020-21 July-June season, Reuters reported.