High foreign demand pushes Ukrainian wheat prices up, producers say
KYIV, Oct 16 (Reuters) -High demand from Asian importers and a limited supply of grain on world markets has pushed Ukrainian domestic and export wheat prices up, producers said on Wednesday.
Ukraine is a major global wheat grower and exporter but the government has limited its wheat exports in the growing season from July 2024 to June 2025 amid high demand from exporters.
"Against the backdrop of climatic problems and lower yields in the European Union, Ukrainian wheat is becoming more competitive, especially for Asian countries," Ukrainian leading farm producers union UAC said in a statement.
It said the conditional price in Ukrainian ports was approaching $210 per metric ton and prices have a potential for growth up to $220.
Analyst APK-Inform said this week Ukrainian wheat export prices added $3 per ton over the past week and average prices were $210 per ton on a carriage-paid-to basis in the Black Sea.
Ukrainian government and farm associations have agreed to limit wheat exports in the 2024/25 season to 16.2 million tons to keep enough supplies for the local population.
Wheat exports have reached 6.89 million tons so far in the 2024/25 season as of Oct. 14, the farm ministry data showed.
Reporting by Pavel Polityuk; Editing by Christian Schmollinger
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