Ukraine's Farmers Miss Benefits of Record-High Wheat
Wheat prices in Ukraine in the local currency, the hryvnia, have hit a historic high due to political unrest in the country and the depreciation of the hryvnia against the dollar, the Ukrainian Club of Agrarian Business said Wednesday.
The average price of third-grade milling wheat is currently UAH2,570 per metric ton, which is 22.7% more than on the same date last year. Feed wheat average price is UAH2,250 a ton, 14.2% more than a year ago. The price of average corn rose 21.3% on the year to UAH2,200 a ton.
The Club of Agrarian Business also said that despite the increase in hryvnia-denominated prices, farmers saw no positive effect as prices in the dollar equivalent were in fact falling because the hryvnia fell against the dollar.
Write to Grigori Gerenstein at firstname.lastname@example.org
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
April 23, 2014 04:42 ET (08:42 GMT)