Ukraine says it will halt all wheat exports effective November 15th. The country’s agriculture minister says drought caused a one-third reduction in the wheat crop this year. Ukraine is one of the top-10 wheat exporting countries in the world.
Official data says the country harvested 15.5 million metric tons of wheat this year and had exported 7.1million metric tons by October 18th. The country consumes 12 million tons per year.
It is not quite clear if the cut-off will include contracts already signed but not delivered.
Ukraine also stopped wheat exports in 2010 when low supplies threatened to push domestic bread prices up.
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