Ukraine Reduces Grain Export Forecast to 23 Million Tons

Ukraine reduced its grain exports estimate to as low as 23 million metric tons for the marketing year started July 1 after drought damaged winter grains for the 2012 harvest, said Serhiy Kvasha, head of the agriculture markets department at the Agriculture Ministry.

The new estimate of 23 million to 24 million tons compares with a previous forecast of 26 million to 27 million tons, Kvasha told reporters in Kiev today. The ministry raised its estimate of ending stockpiles of milling grain, mostly wheat, to 5 million tons as of June 30 from a previous forecast of 2.4 million tons, he said.

“There should be no limits for grain exports,” he said.

In the first five months of the current marketing year, Ukraine exported 6.9 million tons of grain, including 2.1 million tons of wheat, of which 1.1 million was milling wheat, Kvasha said.

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