The FINANCIAL — During the recent decade, Ukraine and Russia are among the key players on the world wheat market, progressively increasing both production and exports of the grain.
Thus, in 2001/02 MY Ukraine and Russia produced in total of 68.3 mln tonnes of wheat and exported 9.6 mln tonnes, in 2011/12 MY according to forecasts, the general production of wheat in these countries will total 75-76 mln tonnes, which will give the opportunity to offer almost 25 mln tonnes of wheat on the world market.
Taking into account the forecast of the US Department of Agriculture on the global wheat exports in the current marketing year (131.3 mln tonnes), the share of Ukraine and Russia covers over 19% of the index.
The growth of production and export of wheat from the Black Sea region can be considered as the major positive fact of development of the global wheat market. At the same time, the growth in global consumption is significantly outstripping the offer volumes of the grain, which is supporting wheat prices on the world market.
The presentation of Teresa McKeivier, leading analyst of wheat market of the USDA Foreign Agricultural Service, will cover analysis of the current situation on the world wheat market and the further development of the situation during the II Ukrainian Grain Congress (October 17-18, Kiev, President Hotel).
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