Bloomberg News

Ukrainian Three-Month Grain Exports Rise 0.5%, Researcher Says

October 05, 2011

Oct. 5 (Bloomberg) -- Ukrainian grain exports rose 0.5 percent in the current marketing year’s first three months, UkrAgroConsult said.

Shipments reached 3.482 million metric tons, compared with 3.465 million tons a year earlier, the Kiev-based researcher said in an e-mailed statement today. The marketing year started July 1.

The government expects grain exports to more than double in the year to as much as 25 million tons, Agriculture Minister Mykola Prysyazhnyuk said last week. Deliveries were 12.1 million tons in the prior marketing year, according to the country’s Agrarian Confederation. Ukraine imposed quotas on cereal exports in 2010 as a drought seared fields.

Outbound shipments came to 1.3 million tons in September, UkrAgroConsult said, citing industry figures. The total included 763,000 tons of wheat that went to the European Union, Egypt and Tunisia.

Barley exports of 464,000 tons were shipped to Saudi Arabia, Syria and Jordan, the researcher said. Deliveries in September also included 60,000 tons of corn and other cereals.

The government replaced the export quotas with taxes as of July 1 in an effort to reduce the budget deficit and unlock a $15.6 billion loan agreement with the International Monetary Fund. Existing regulations will be changed after agricultural producers protested against the taxes, Prime Minister Mykola Azarov said today.

The economy ministry last week proposed maintaining the grain-export duties through 2012 and imposing taxes on rapeseed, sunflower-oil and soybean shipments.

--Editors: Dan Weeks, John Deane.

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

To contact the editors responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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