Moscow | Reuters — Russia is muscling in on the markets of its European and North American competitors as it overtakes the European Union to become the world’s biggest wheat exporter for the first time. Russia is expecting a record crop in the 2016-17 marketing season, which began on July 1, while EU harvests are […] Read more
Russia muscling into rivals’ wheat markets
Russia now expected to leave grain tax scheme intact
Moscow | Reuters — Russia, one of the world’s largest wheat exporters, is not expected to change its current regime of taxes on grain exports, sources said on Friday, following proposals to change them. Concerns over the possibility of tougher limits on Russia’s foreign sales of wheat sent global prices to a one-month high earlier […] Read more
Russia, China sign accords on grain quality control
Reuters — Moscow and Beijing have signed agreements on the control of grain quality, which technically open the Chinese market to Russian grain. Russian food safety watchdog Rosselkhoznadzor and the Chinese government body in charge of quality control signed two food safety documents on Russian wheat, corn (maize), rapeseed, soybean and rice supplies at a […] Read more
Russia-Turkey tensions stymie new wheat deals
Reuters — Political tension between Russia and Turkey has put a brake on new wheat deals between the two countries and created uncertainty about existing agreements, traders said Thursday. Relations between Russia, one of the world’s largest wheat exporters, and Turkey, the largest buyer of Russian wheat, have quickly deteriorated after Turkey shot down a […] Read more
Russia, Ukraine may cut grain crop forecasts as temperatures rise
Moscow/Kiev | Reuters — Major Black Sea wheat exporters Russia and Ukraine may cut their official 2015 grain crop forecasts as recent hot weather has raised the risks to plants and rains elsewhere have delayed the harvest and dented quality, farmers and officials said. Russia and Ukraine’s agriculture ministries have said if hot weather persists […] Read more
Uncertainty over Russia’s wheat export tax seen slowing trade
Moscow/Abu Dhabi | Reuters –– Uncertainty over Russia’s new wheat export tax is slowing trade activity as traders who have signed forward contracts say they are unsure about how the formula will be implemented. The floating tax formula, to be launched from July 1, is intended to stop exports surging if the rouble drops steeply, […] Read more
Russia looks set to extend import ban on Western food
Moscow | Reuters –– Russia looks likely to extend a ban on Western food imports beyond an Aug. 7 deadline, with a lack of incentive to lift its embargo due to the prospect of extended European sanctions. With President Vladimir Putin supporting moves to boost Russia’s “food security,” officials have promised to invest more in […] Read more
Russia’s Uralkali to invest US$4.5B to stay potash No. 1
Moscow | Reuters –– Russia’s Uralkali will invest US$4.5 billion over the next five years to raise production capacity by 30 per cent, aiming to remain the world’s largest potash company despite a setback at a major mine. Uralkali’s capacity to produce potash, a crop nutrient, came into focus after it halted production at the […] Read more
Russia starts spring seeding with raised hopes for harvest
Moscow | Reuters –– Russian farmers have started their spring seeding campaign with prospects for the 2015 crop brighter than first thought, the agriculture ministry said on Wednesday. Russia, one of the main key wheat exporters to North Africa and the Middle East, needs a good crop after a sharp drop in the rouble has […] Read more
Russian grain exports seen reviving as informal curbs ease
Moscow | Reuters –– Russian grain exports have picked up again after a decision to impose official export duties reduced informal curbs that had all but stopped sales abroad, SovEcon agriculture consultancy said on Saturday. Russia, the world’s fourth-largest wheat exporter, introduced informal grain export controls last week to try and cool domestic wheat prices […] Read more
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