Ukraine's wheat stockpiles projected to increase fourfold year-over-year to 7 million-8 million tonnes on July 1 due to 'insufficient' exports, agriculture minister says

LOS ANGELES , March 14, 2012 () – Ukraine’s wheat stocks will increase fourfold by July 1 due to “insufficient” exports last year, according to deputy agriculture minister Mykola Bezuhlyi, Bloomberg reported March 14.

Inventories could fall between 7 million and 8 million tonnes due to the slow pace of exports, Bezuhlyi said. Stockpiles totaled 1.9 million tonnes on July 1, 2011, according to the state statistics office.

The country’s wheat harvest is forecast to reach 14 million tonnes in 2012, agriculture minister Mykola Prysyazhnyuk said March 13.

Ukraine harvested 22.3 million tonnes of wheat in 2011, according to the state statistics office.

The primary source of this article is Bloomberg, New York, New York, on March 14, 2012.

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