Kyiv | Reuters – Ukraine’s farm ministry has agreed with traders and agriculture associations to limit wheat exports in the 2024/25 July-June season to 16.2 million metric tons, the ministry said on Tuesday.
The government and traders annually sign a memorandum in which officials promise to maintain the existing terms of trade and not restrict exports within the agreed volume while traders undertake not to exceed this volume.
The ministry has said the wheat is the only agricultural commodities export that will be restricted.
“The parties agreed to further monitor the volume of grain exports on a monthly basis and, if necessary, to adjust the export ceiling in January 2025,” a ministry statement said.
Ukraine exported 18.3 million tons of wheat in the 2023/24 season after harvesting more than 22 million tons.
This year, the ministry says, the wheat crop could shrink to 21.8 million tons because of a heatwave this summer.
Wheat exports had reached 3.59 million tons as of Aug. 30, the ministry said last week, up from 1.06 million tons by the same date in 2023.
