News

Wheat futures fell in the last minute of trading in Chicago, erasing earlier gains, as rising global inventories are expected to overwhelm demand for the grain.

In 2009, the Autonomous Republic of Crimea (Ukraine) produced 94.9 thsd tonnes of rice, an increase of 55.1% compared to 2008, declared the Main statistics department of the Autonomous Republic of Crimea.

Due to populism and poor government policies, the pace of development is extremely disappointing. Ukraine has recovered its reputation as the breadbasket of Europe by posting record harvests in recent years, more than 52 and 48 million tons of grain in the past two seasons, respectively. Moreover, investment into the sector has increased sharply. However, I think that the pace of development is extremely disappointing and that Ukrainian governments did everything possible with poor policies to slow it down. Had they not, Ukraine’s agriculture sector would already be generating much larger harvests and at least twice as much value as it generates today.

European Union cereal production is expected to be virtually unchanged at 292 million metric tons in 2010-11 compared to the previous harvest year, Strategie Grains said in its monthly report published Thursday.