Ukraine Moves to Limit Wheat Shipments as Food Concerns Spread

Ukraine reached an agreement with exporters that would limit shipments of wheat used in flour out of the country in an effort to preserve food supplies.

Agriculture Minister Oleksiy Pavlenko said at a conference on Friday that milling wheat exports of 1.2 million metric tons from January through June are being discussed, adding that the figure may vary by 10 percent. The pact with grain exporters will be signed Jan. 26, Pavlenko said from Kiev.

“The memorandum is a gentlemen’s agreement that in fact means an informal restriction,” Nikolay Vernitsky, director of market researcher Pro Agro, said by phone from Kiev. “There is a risk of a shortage of wheat at the end of the season.”

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