Russian farmers lost about 50 billion rubles ($781 million) due to implementation of a duty on wheat exports during the last season, head of the Russian Grain Union Arkady Zlochevsky said. “As a result, during the last season farmers lost 1,000 rubles per ton. Last season sales of grain amounted to 52-63 million tons. Respectively…
A meeting on oil taxation issues chaired by Russian Prime Minister’s deputy Arkady Dvorkovich will take place in August, First Deputy Energy Minister Alexei Teksler said. “It has been already slated, it’s August”, Teksler said. The official said that the Energy and the Finance Ministries still had not agreed on a range of issues and…
Upward trend in wheat prices continues in Russian market. During last week milling wheat (12.5%) prices in Novorossiysk and Azov ports increased by $3-4 to $170-174/MT FOB and $150-154/MT FOB respectively for August and September delivery. Export prices for high protein wheat are still supported by lower supply, both on the global and domestic Russian…
Analysts of Rusagrotrans CJSC increased the forecast of the general grain harvest in Russia in 2016 to 118.5 million tons, against the previous forecast of 116 million tons, the Deputy Director of the strategic management department at Rusagrotrans CJSC Igor Pavensky declared. According to him, Russia produced the previous record harvest of grains 37 years…
According to Rufco Company, grain freight rates remained steady in the Azov Sea basin. Trading activity declined slightly, grain exports did not meet expectations of shipowners, first of all regarding shipments to Turkey. Supply of free “river-sea” fleet exceeded demand in spot market. In the Caspian Sea grain freight rates continued to strengthen. Shipments of…
Russia was ranked first in a list of commodity-based economies by foreign investment diversification, according to an analytical survey conducted by the Financial Times. According to the survey covering the period from 2003 till 2015, Russia raised investments in more than 4,000 new initiatives across 39 analyzed sectors. Financial services, industrial machinery, food, tobacco and…
In January-July Port Vysotsky LLC handled 3,456,531.237 tons of cargo (up by 15.2% YoY), the stevedore’s press center says. In July the company exported 455,932.452 tons of coal. Port of Vysotsk is located in the Leningrad region of Russia. There are two stevedoring company operating at the port: Port Vysotsky LLC and RPK-Vysotsk-LUKOIL-II LLC. In…