Russia, the leading grain export competitor for Ukraine, has increased its wheat exports sharply to about 700,000 tonnes in August, forcing Ukraine to slow its trade, Ukrainian analysts said on Tuesday.
Russia exported 263,000 tonnes of wheat in July. APK-Inform agriculture agency quoted port data as showing that Russia increased grain exports to about 900,000 tonnes in August from 324,000 tonnes in July.
Russia exported grain mostly to Egypt, Israel, Greece, Italy and Tunisia. "Russia has started active wheat exports at relatively low prices and more expensive Ukrainian wheat is forced to wait for higher bid prices," a Ukrainian grain trader told Reuters.
Ukraine, a traditional wheat exporter, sold 165,000 tonnes of wheat abroad in the first two months of the 2004/05 July-June season compared with 963,000 tonnes sold by Russia.
"Export restrictions are the main reason for the higher prices and slower exports," the trader said.
Ukraine plans to harvest at least 35 million tonnes, including 18 million tonnes of wheat, and hopes to export 4.5 million tonnes of wheat.
The country exported only about 50,000 tonnes of wheat in 2003/04.
Russia plans to harvest between 73 and 76 million tonnes of grain. Analysts said the wheat crop might total up to 46 million tonnes of wheat and between four and five million tonnes be able to be exported.
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