The regulator raised the official dollar exchange rate by 25% last week, which also boosted grain prices.
Prices for Ukrainian grain increased by 10-30% after the decision of the National Bank to raise the official rate of the dollar, as well as after the signing of an agreement with Istanbul on the export of grain. This was announced by the Minister of Agrarian Policy and Food Nikolai Solsky on Monday, July 25.
“The farmer will now have a purchase offer from not one, but several (traders), and we see how the prices rise in a few days. This is due to two signals: the first is the alignment of exchange rates, and the second is a big signal – the opening of the ports. The price for rapeseed, which is now being harvested, has increased by 20-30%, for corn – by 10-20% in just a few days,” said the minister.
At the same time, the price of wheat in Ukraine increased by 10% in a few days, despite its surplus on the market.
At the same time, the Russian strike at the Odessa port also caused grain prices to rise. So, wheat futures on the Chicago Mercantile Exchange rose nearly 4% to $7.86 a bushel, recovering much of the ground lost on July 22, when prices fell nearly 6% after the agreement was announced.
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Source: korrespondent
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