Abu Dhabi | Reuters — Syrian farmers enduring a fifth year of civil war have sold less wheat to the state than last year despite a better harvest and higher offer price, leaving a large shortfall to be made up with imports complicated by western sanctions. President Bashar al-Assad’s government has lost control over many […] Read more
Syria needs more wheat, despite healthy harvest
Russian farm lobby says crop reports artificially high
Moscow | Reuters — Russian regional officials are pressuring farmers to report more grain crop than they actually harvest this year, the head of farmers’ lobby the Grain Union said on Tuesday. Arkady Zlochevsky said the difference between the actual harvest and the declared figures was not significant. However, his comments could be troubling for […] Read more
New Russian wheat tax puts exporters, traders on edge
Moscow | Reuters –– Russia approved the launch of a new wheat export tax from July 1, which traders say could threaten profits on advance contracts for the new crop if the rouble weakens in coming months. Russia’s government said Friday that the new tax was intended to stop exports surging if the rouble drops […] Read more
Russian ag ministry proposes new wheat export duty formula
Donskoy | Reuters –– Russia’s agriculture ministry said on Tuesday it had finalized the methodology for the calculation of a wheat export duty that will be introduced from July 1. It has proposed exporters pay a duty of one rouble per tonne on wheat priced up to 11,000 roubles (C$268) per tonne on a free-on-board […] Read more
Russian wheat prices follow global benchmarks higher
Tikhoretsk | Reuters — Russian wheat export prices rose last week following an increase in global benchmarks and concerns over dry and hot weather in the European part of Russia, analysts said. Russia, one of the world’s big wheat exporters, competes with other global suppliers, including France, where Western European wheat prices hit the highest […] Read more
Russia lifts wheat export duty, exports seen rising
Moscow | Reuters — Russia lifted its duty on wheat exports on Friday to help domestic producers and the government said the move would boost overseas sales by one million tonnes. One of the world’s major wheat exporters, Russia initially imposed the tax from Feb. 1 until June 30 to dampen rising domestic prices and […] Read more
Russia’s ag ministry proposes to cancel wheat export tax
Moscow | Reuters — Russia’s agriculture ministry has proposed to the government to cancel a tax on wheat exports from July 1 when the 2015-16 marketing year starts, a source at the ministry told Reuters. Russia imposed the duty on wheat exports between Feb. 1 and June 30 in an effort to cool domestic food […] Read more
Russia may extend tax on wheat exports, deputy PM says
Moscow | Reuters — Russia may extend a tax on wheat exports beyond July 1, but is yet to make a final decision, Russian news agencies cited Deputy Prime Minister Arkady Dvorkovich, who is in charge of the sector, as saying on Friday. Russia has imposed the duty on wheat exports since Feb. 1 in […] Read more
Russia seen removing wheat tax in July if inflation slows
Moscow | Reuters — Russia, one of the world’s leading wheat exporters, will probably not extend a tax on wheat exports, imposed until June 30, if optimism over lower inflation and a large crop persists among officials, SovEcon consultancy said. Russia’s economy has been hit hard by low global oil prices and Western sanctions due […] Read more
Ukraine ceasefire may, or may not, weigh on wheat
CNS Canada –– A tentative ceasefire in eastern Ukraine could lead to adjustments in the global grain markets, with softening wheat prices a possibility. Conflict in eastern Ukraine has been an underlying factor in grains and oilseeds markets over the past year, with the uncertainty of the situation providing both bearish and bullish incentives for […] Read more
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