China, fearing a new round of trade confrontation with the United States, is increasing food imports from Russia - this year, its import first came in second place after oil - contributing to Russia's image as an environmental supplier. Experts told RIA Novosti, how it was possible to achieve such results and evaluated the prospects for further deliveries of products to the PRC. According to the main customs department of China, in the first five months of 2020, exports of agricultural products and products from the Russian Federation to China grew by a quarter and amounted to $ 1.8 billion. Thus, for the first time in history, food products were second after oil. Read more...
Russian wheat export prices were stable last week as the rouble strengthened, which was supported by higher oil prices and seasonally limited supply, analysts said on Monday. Wheat of the Russian origin lost another important purchase tender by Egypt's state grain buyer GASC last week as it was more expensive than Romanian and Ukrainian wheat. Egypt has been the largest buyer of Russian wheat in recent years. Black Sea prices for Russian wheat with 12.5 percent protein content for delivery in April were $225 per tonne on a free on board (FOB) basis at the end of last week, unchanged from a week earlier, Russian agricultural consultancyIKARsaid.. Read more...
Russian wheat export prices fell again last week, weighed down by forecasts for a relatively strong next harvest, as well as a strengthening rouble, analysts said on Monday. Black Sea prices for Russian wheat with 12.5 percent protein content and for delivery in April were $222 per tonne on a free on board (FOB) basis at the end of last week, down $4 from a week earlier, Russian agricultural consultancyIKARsaid in a note. “Prices are falling against the backdrop of the new harvest, which is forecast to be quite good. So there will be an even more noticeable fall then, I think,”IKARanalyst Dmitry Rylko said. SovEcon, another Moscow-based consultancy,. Read more...
Russia, the world’s biggest wheat exporter, still has a surplus of 4 million to 5 million tonnes of old-crop of the grain for exports, a leading exporter of Black Sea grain cargoes said on Wednesday. The market has been expecting the Black Sea Region suppliers, mainly Russia and Ukraine, to run out of surpluses after a hectic export programme in the second half of 2018, creating room for the United States to sell some of its large inventories. “Russia will be exporting old-crop wheat not just in April but even in July,” said the trader who declined to be identified as he was not authorised to speak to media. “Russia exports most of the wheat. Read more...
Russian wheat export prices fell last week due to intensified competition with U.S. wheat for supplies to Egypt, the world’s largest importer and the top buyer of Russian wheat, analysts said. Chicago wheat prices, the global benchmark, had been falling last week until Friday when they jumped as U.S. wheat became one of the winning origins – for the first time in many months – at a tender of GASC, Egypt’s state buyer. Black Sea prices for Russian wheat with 12.5 percent protein content and for delivery in November were $224 per tonne on a free on board (FOB) basis at the end of last week, down $7 from a week earlier, Russian. Read more...
Russian wheat export prices fell at the end of last week amid decline in the rouble currency and the global benchmark contract in Chicago. Black Sea prices for Russian wheat with 12.5 percent protein content were at $215 a tonne free on board (FOB) at the end of last week, down $10 on the week,IKARagriculture consultancy said in a note. SovEcon, another Moscow-based consultancy, quoted FOB wheat down $2 at $221 a tonne and Barley $1 down to $232 a tonne. By Aug. 30 Russia had exported 9.8 million tonnes of grain since the start of the 2018/19 season on July 1. That was up 39 percent from the same period the previous year and included 8.2 million tonnes. Read more...
Russia’s biggest industry has been oil productionhistorically, but the country appears to be trying to diversify that by putting more emphasis on agriculture. The former soviet state has been relying on the same tractors and silos for decades due to the apparent lack of opportunity for growth before 2013. With Russia’s increased production of wheat, farmers need to find alternative means of storage. As of this year, Russia has officially surpassed the United States in the exportation of wheat. Even though Russia has pulled ahead of the United States for wheat exports, the country’s farms are still years behind in regard to equipment. Equipment providers. Read more...
Russia has become the world leader in the export of wheat, surpassing the U.S. and Canada, the country's Minister of Agriculture Alexander Tkachev told journalists on April 28. According to Tkachev, Russia will supply about 25 million tons of wheat on the external market by the end of 2016. In 2015 Russia achieved record levels in the harvest of corn (13.2 million tons), rice (1.1 million tons), soybeans (2.7 million tons) and buckwheat (900,000 tons), the minister said. The total grain harvest amounted to 104.8 million tons in 2015. Russia’s position as a leading wheat exporter in 2016was reportedby The Wall Street Journal in February, citing data. Read more...
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