Ukraines Agriculture Minister on Wednesday said the country would ban wheat exports from Nov. 15 after a weather-damaged harvest, a move that further underpinned international prices.
The move triggered a warning from leading global wheat importer Egypt that Ukraine risked damaging its credibility on international grain markets. Ukraine later said existing contracts can be fulfilled.
"There will be a full ban from Nov. 15. There will be a government order about this. We are not playing games here. We do not have any other option," Farm Minister Mykola Prysyazhnyuk told Reuters, confirming widespread speculation in markets in past weeks.