In response to the wildfires that ravaged Russia this summer it has been announced by the Russian Government that the temporary grain export ban that was supposed to run until December 2010 will be extended until after next years’ harvest has been reaped.
Following a severe drought this summer, Ukraine has announced an export quota on grain exports until the end of 2010. Two million tonnes of maize, half a million tonnes of wheat and half a million tonnes of barley will be permitted to be exported until the end of the year when officials will reassess the situation.Ukraine is the worlds’ top producer of barley and the sixth biggest producer of wheat and prices of both have increased in reaction to the news.
If you are importing from the Ukraine then you should look at putting alternatives in place in case the quotas are exhausted sooner than planned.
Watch this space for more developments.