Ukraine to cut grain exports by 22 percent

Ukraine may cut grain exports in the 2014/15 marketing year, which started on July 1, by up to 22 percent due to higher production costs, Kiev-based UCAB consultancy said on Wednesday. Ukraine, one of the world's key grain exporters via the Black Sea, has seen its hryvnia currency fall about 30 percent since the start of the year due to its deepest economic and political crisis since the collapse of the Soviet Union. "One of the negative factors which affected the harvest forecast was a price hike in production resources due to hryvnia depreciation," UCAB said.