Ukraine traders will slow wheat purchases, UkrAgroConsult says
2012-10-22 16:25:54
Ukrainian grain traders will slow purchases of wheat for exports after the government announced restrictions last week, according to UkrAgroConsult.
“We believe the traders will begin to slow their purchases after the announcement of restrictions,” the Kiev-based agriculture researcher said in an e-mailed statement today.
Domestic prices have stayed high as traders were making purchases to fulfill previously signed contracts, the researcher said. Traders should be “cautious” when signing wheat export contracts, First Deputy Agriculture Minister Ivan Bisyuk said Oct. 19. He said that shipments this season may be 5.3 million metric tons by Nov. 15-20, a point that threatens to exhaust the country’s exportable surplus.