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Ukraine wheat, corn export prices rise amid high demand

KYIV, Dec 21 (Reuters) - Ukrainian wheat export prices added $4 per tonne over the past week thanks to a strong demand from exporters, analyst APK-Inform said on Monday.

Ukrainian 12.5% protein wheat traded at $255-$259 per tonne FOB Black Sea at the end of past week, the consultancy said in a report. For the lower-quality 11.5% protein wheat, prices were between $254 and $258 a tonne.

Ukraine, among the world's major wheat growers and exporters, plans to export 17.5 million tonnes in the 2020/21 July-June season.

The consultancy said that an increase in interest in purchasing Ukrainian grain had also been caused by a significant rise in the cost of Russia-origing wheat and difficulties with its shipping.

Last week, the Russian government decided to impose a wheat export tax of for Feb. 15-June 30 as one measure to stabilise domestic prices.

Ukrainian corn has almost returned $4 per tonne lost last week, having risen in price by $3 to $228-$232 FOB, the consultancy said.

Ukraine's economy ministry said this weekend it cut its grain export forecast for the 2020/21 July-June season to 44.175 million tonnes from the previous forecast of 44.823 million due to smaller corn shipments.

It cut 2020/21 corn export forecast to 22.255 million tonnes from 22.982 million.

The ministry also cut the Ukrainian grain harvest forecast to 64.455 million tonnes in clean weight from 65.096 million and revised down 2020 corn output to 29.272 million tonnes from 29.999 million tonnes.

Ukraine accounts for about 16% of global grain exports in the 2019/20 season, while its exports have fallen almost 16% to 23.87 million tonnes as of Dec. 18. (Reporting by Pavel Polityuk)

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