Ukraine: UGA supported the Memorandum on wheat export volumes at the level of 20.2 mln tonnes

Source

APK-Inform

1842

On March 30, 2020, the President of the Ukrainian Grain Association (UGA), Mykola Gorbachov, signed the Appendix to the Memorandum proposed by the Ministry for Development of Economy, Trade and Agriculture of Ukraine, on coordination of the positions on the grain market for 2019/20 MY, which sets the maximum volumes of wheat exports at the level of 20.2 mln tonnes, reported the press-service of the Ukrainian Grain Association (UGA).

The reporting indicator completely corresponds to the forecast of the UGA for wheat exports from Ukraine in the current marketing year. To date, Ukraine already exported almost 18 mln tonnes of wheat, and according to the document the country still has to export 2.2 mln tonnes in April-June of 2020. The reporting volumes are absolutely typical for Ukraine for the last months of the season, and does not make any risks to the food security. In addition, for the whole contemporary history of signing the Memorandum between grain growers and the Ministry, there were no cases of violation of the negotiated arrangements and grain exports exceeding the established limit, M.Gorbachov said.

According to the UGA, to date there is no deficit of wheat on the domestic market, and there are no risks to the food security in Ukraine. It is commonly known that grain production in Ukraine oversupplies the market. Thus, the domestic market consumes 1/3 of the harvest only, and the country annually exports the remaining 2/3 of the volumes, which is the significant source of foreign currency incoming to the country, and the guarantee of economic stability.

As of the reporting date, Ukraine already exported nearly 50 mln tonnes of grain and oilseed crops, and plans to export another 10 mln tonnes until the end of the season. At the same time, in 2019 crops production totaled nearly 98 mln tonnes, which became the absolute record.

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