Ukraine to extend grain export quotas, raise cap

Ukraine on Wednesday decided to extend its grain export quotas until the end of March of 2011, while it also announced to higher the cap.

The period of extension was shorter than that in an announcement last month which said that quotas would be prolonged until next July.

"We have also decided to increase it by 1.5 million tons -- 500,000 million for wheat and 1 million for corn," agrarian minister Mykola Prysiazhniuk said.

The country has been setting limits to its grain exports over the past months due to bad harvests caused by the summer droughts.

Ukraine has announced that its grain exports this year were limited to 2 million tons of corn, 500,000 tons of wheat and 500,000 tons of barley.

Source: Xinhua