Thursday, 7 October 2010

That’s just flippin’ great that is!

Unofficial grain export quotas finally made official.

The long drawn out political spin has finally come to an end as the government officially imposes a ban on grain exports.

Deputy Prime Minister Andriy Klyuyev said that grain imports this year will be limited to 2MMT of corn, 0.5MMT of wheat and 0.5MMT of barley.

I defy anyone in the Ukrainian administration to justify why this is considered to be good governance.

Think this won’t affect you? Think again. The announcement which was made yesterday afternoon will only drive already high grain prices even higher as the panic sets in.

Watch the market over the next twenty four hours and wait for the empty words of righteous indignation from point scoring politicians and watch no one, I mean no one, not the IMF, the WTO, the EU, the US, no one do anything about it.

Great stuff lads!