KIEV, UKRAINE — Ukraine’s agriculture ministry is allegedly banning exports of wheat from Nov. 15 after bad weather hurt the harvest, Reuters reported on Oct. 19.
Traders said the ministry will allow traders to export up to a total of 5 million tonnes of wheat in the current season.
The wheat harvest has been down by a third this year, Reuters said. Traders said the ban did not come as a surprise, and they have been speeding up shipments abroad.
Reuters reported that the ministry said in a statement that the high pace of wheat exports would exhaust stocks of wheat available for shipping abroad by Nov. 15-20. It urged traders to be cautious in writing new contracts.