Ukraine's President Signs Law to Impose Grain Export Duty

Ukraine's President Viktor Yanukovych signed the law imposing a tax on grain exports, according to the president's website.

The duty will start July 1 and be 9 percent for wheat, 12 percent for corn and 14 percent for barley. Parliament voted on May 19 to replace export quotas with the tax.

Ukraine had grain export quotas for seven months after drought curbed production. The harvest was 39 million tons, or 6 million tons less than initially expected.