Ukraine sets export quotas on major agricultural products


Ukraine, one of the world’s leading wheat producers, has imposed export restrictions on the crop and other agricultural products amid the Russian military invasion, Interfax news agency reported. Ukraine.

According to a government decree published on Sunday evening, a license issued by the authorities is now required to export wheat, poultry meat, eggs and sunflower oil.

Quotas were also introduced for the export of cattle and beef, salt, sugar, oats, buckwheat, rye and millet.

The dispute has pushed wheat prices higher as Russia is the world’s largest exporter of grain and Ukraine is the fourth according to estimates by the United States Department of Agriculture (USDA).

The United Nations World Food Program on Friday warned of a looming food crisis in conflict-affected Ukraine and said disruptions to production and exports could lead to food insecurity around the world.

The body noted that with Russia and Ukraine supplying around 29% of global wheat trade, severe disruptions in production and exports could push food prices even higher – already to 10-year highs. years.

The Food and Agriculture Organization of the United Nations said last week that its food price index for February was up nearly 4% from January.

“(While) the food price index measures average prices over the month, the February reading only partially incorporates market effects resulting from the conflict in Ukraine,” the FAO said on Friday.

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