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The Ministry of Agrarian Policy of Ukraine plans to resume the practice of signing memorandums on grain export

Published May 18, 2024

Tridge summary

Acting Director of Ukraine's Ministry of Agrarian Policy, T. Vysotskyi, has suggested a return to the practice of signing memorandums to limit wheat exports. This move is in response to forecasted reductions in wheat production. Despite the new harvest being sufficient for domestic consumption, Vysotskyi stresses the importance of predictability for processors regarding the availability of quality raw materials. The memorandums, typically signed in August or September, will help regulate the export volumes, ensuring the stability of the domestic market.
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Original content

In the new season, which will begin already in July, Ukrainian producers and processors of wheat may have to return to the practice of signing a memorandum, which will determine the maximum volumes allowed for export, which will ensure the safety of the domestic market, - said the Acting Director. Minister of Agrarian Policy of Ukraine T. Vysotskyi. He believes that in the new season the Ministry of Agrarian Policy should resume the practice of signing a Memorandum with market participants regarding permissible export volumes in view of forecasts of a reduction in wheat production, although there are currently no critical transitional balances in the balance sheet. "The new harvest will be enough to ensure domestic consumption, but predictability is now very important, as processors must be sure of the ...
Source: Graintrade
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