US Applauds Ukraine Restraint on Wheat Ban

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(AP) — The U.S. Monday commended Ukraine for showing restraint over its wheat export ban, after the Black Sea nation backtracked on plans to become the first leading producer to impose restrictions in the wake of summer droughts.

 

“We are particularly glad to see that the government of Ukraine has clarified that it has not put an export ban in place,” said the U.S. Mission to the United Nations agencies for food and agriculture in Rome.

 

“Governments around the world can help to reduce the risk of a food price crisis by abstaining from food export bans and other artificial barriers that increase price volatility and harm the world's most vulnerable citizens,” it said.

 

Ukraine's agriculture ministry last month said a ban on wheat exports would come into effect from Nov. 15 because of concern that domestic-market stocks were running low due to a poor harvest. This was refuted last week by the country's deputy agriculture minister Ivan Bisyuk, who said Ukraine didn't intend to impose such an embargo and that no official document had been prepared.

 

Summer droughts have scorched crops across the globe, including Ukraine, causing the price of corn, wheat and soybeans to rise, and raising fears of a repeat of the 2007-2008 world food crisis. However, the Group of 20 advanced and developing economies recently called off an emergency meeting to discuss grain-supply problems and ways to temper volatile prices.

 

Washington, which made the decision as chair of the G-20's agriculture initiative, said related commodity markets were functioning and governments have “exercised prudence and responsibility in policy making, including avoiding export bans that exacerbated volatility in 2007-08.”

 

 

 

Source:  Associated Press

Posted by Haylie Shipp

 


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