The Ukrainian government is not considering further intervention in the export of wheat at this stage, but may do it later in the current season if the export pace proves to be too high, Deputy Economy Minister Taras Kachka said.
ProAgro Group reports this, citing Refinitiv Agriculture.
Ukraine traditionally exports wheat mostly in the first half of the season, before its export rates drop sharply when exporters turn to other countries for grain imports. By mid-November, 52% of the annual export volume agreed last month by the Ministry of Agriculture and the grain sector of 25.3 million tons for 2021/22 MY had already been shipped, Kachka said on the sidelines of the Global Grain conference in Geneva.
When the export quota is almost reached, the government could start considering export restrictions, but Ukraine would prefer not to restrict exports, unlike Russia, which has imposed an export duty, he said.
He noted that the government could allow an additional 100,000 to 200,000 tons to be exported and to use state stocks before considering export restrictions.
“But if the rate of exports remains the same, for example, if 90% of the quota is exported before March, then we need to have daily discussions with traders,” Kachka pointed out.
