Ukraine Plans to Stop Grain Shipments Contravening Export Limit

Ukraine plans to stop two vessels which are loading wheat in contravention to an export limit agreed to between traders and the government, industry group Agrarian Confederation reported on its website.

The Confederation cited First Deputy Agriculture Minister Ivan Bisyuk in its report, which didn’t specify how much wheat was being loaded in the southern ports.

A 6 million metric ton limit on wheat exports for the marketing year which ends in July was reached in December, according to the Agriculture Ministry. Ukraine’s harvest fell 29 percent to 15.76 million tons this year due to drought, according to the state statistics office.

The government may revise the wheat export policy as early as the end of March, when the condition of winter wheat and possible stockpiles becomes clear, according to the Agrarian Confederation’s report.

-- Editors: Sharon Lindores, Nicholas Larkin

Before it's here, it's on the Bloomberg Terminal.