Financial Times FT.com

Ukraine's grain dumped into sea as quotas strangle exports

By Roman Olearchyk in Kiev

Published: February 5 2007 02:00 | Last updated: February 5 2007 02:00

Grain traders in Ukraineare throwing thousands of tonnes of rotting crops into the Black Sea as a protectionist trade embargo in what was once the "breadbasket of Europe" extends into its fifth month.

The government has promised to ease export quotas on various types of grain within weeks, but the market has already incurred losses in excess of $100m (£51m).

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