The Ukrainian Cabinet of Ministers has decided to cancel the export quota on grain, Ukrainian Prime Minister Yulia Tymoshenko announced recently.
Prime Minister Tymoshenko pointed out that the introduction of export quotas on grain was a temporary measure which no longer had any use, as Ukraine is expecting a rich harvest this year.
The impact of the cancellation of the grain export quota on the freight costs of scrap exported from Ukraine is yet to be seen. Till now, scrap freight rates from the Black Sea shore have soared due to the low availability of cargo ships.