The Russian government has annulled the wheat export duty for two years, Prime Minister Dmitry Medvedev said. “We have decided to annul the wheat export duty for the next two years. The grain market will receive an additional stimulus for growth as the result of this”, Medvedev said. Russia imposed the wheat export duty on…
Export prices for Russian high-protein wheat fluctuated during the week, but showed a slight decrease. On the one hand, the pressure was caused by drop in wheat quotations on the global market (on the Chicago Board of Trade -10.2% over the week), and on the other – prices were supported by the slower pace of…
Cancellation of the export duties on Russian wheat will positively impact the grain supplies on foreign markets and increase the volumes by 5 million tons – to 30 million tons per year. At the same time, last year the exports reached 25 million tons, the First Deputy Minister of Agriculture Jambulat Khatuov declared. The government…
Russian winery Abrau-Durso plans to aggressively extend its asset volume through purchases, CEO Pavel Titov said. “We plan to show a quite aggressive behavior on the market. We want to continue merger and acquisition deals”, Titov said. Earlier in August, Abrau-Durso bought bankrupt winery Russkaya Loza for 190.35 million rubles. Titov also said that the…
Yamal LNG liquefied natural gas plant project led by independent gas producer Novatek can receive a $400 million loan from the Japan Bank for International Cooperation (JBIC), Bloomberg reported citing JBIC CEO Tadashi Maeda. JBIC has almost finalized the agreement with the project and plans to sign a memorandum of understanding for strategic partnership with…
On August 29, Uralkali held its Extraordinary General Meeting of Shareholders (EGM) where following decision has been made. The EGM approved of interested-party major transaction (a number of interrelated transactions) – placement of the company’s exchange traded bonds in favor of JSC Uralkali-Technology with a total nominal value of $800 million and with a value…
The cargo traffic by the Northeast Passage can increase manifold to 65 million tons a year by 2020 because Russia’s foreign partners, in particular, China, are interested in the opportunities its use can offer, Nikolai Patrushev, secretary of the Security Council, declared. He said that further development of the transportation capacity of the route going…