Ukraine to Extend Deal With Traders on Grain Export Monitoring

Ukraine plans to extend an agreement with traders to coordinate grain exports in the marketing year which starts July 1, agriculture researcher UkrAgroConsult said.

The Agriculture Ministry and grain exporters agreed to monitor outbound shipments and the domestic grain balance for a one-year period after a 29 percent decline in the wheat harvest due to drought last year.

A new agreement with traders will give the Agriculture Ministry “the reins to control the market,” the Kiev-based researcher UkrAgroConsult said in e-mailed statement today.

The researcher estimates Ukraine’s 2013 grain harvest at 53 million tons or 15 percent more than last year.

The Agriculture Ministry said grain traders also want to extend the agreement, according to a statement on the government’s website.

Volodymyr Klymenko, the head of the Ukrainian Grain Association, wasn’t immediately avaliable to comment when contacted by Bloomberg today.

To contact the reporter on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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