Russia’s consumer price inflation will amount to 5.4-5.5% in 2016, below the official forecast of 5.8%, Economic Development Minister Alexei Ulyukayev reported. “Our accumulated inflation now stands at 4.1% since the start of the year and 6.4% compared with the corresponding last year period”, he said. “It will be around 0.4% in each of the…Details
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Russia has agreed to cut the 2016 gas price and has outlined a plan of further reductions for the next few years for Belarus, while Minsk agreed to redeem a $300 million debt for past deliveries, government officials said. “The debt, which has accrued for January gas payments will be redeemed fully until October 20.…Details
Russia is considering shipping 100,000 tons of wheat to Syria as humanitarian aid, a source at Russia’s Agriculture Ministry reported, adding this volume could be supplied via the Black Sea and paid for by Russia’s government. “We will decide on this by the year-end”, the source said. He added that Russia would be also ready…Details
VTB Capital, an investment advisor on privatization of the government’s 25% stake in Russian shipping company Sovcomflot, has submitted a report to the Economic Development Ministry in which it said that the stake might be sold in 2017 in parts on the Moscow and New York stock exchanges, Minister Alexei Ulyukayev reported. “Sovcomflot (privatization) may…Details
As of October 6, Russian agrarians continued harvesting grains and pulses. Agrarians harvested grain crops throughout the general areas of 43.3 million ha (on the same date in 2015 – 40.7 million ha), or 91.6% of the planned areas (47.3 million ha). The produced volumes reached 112.8 million tons of grains, with the average yield…Details
Since the beginning of 2016/2017 MY and as of October 5, the volume of grain exports from Russia totaled 10.402 million tons, down by 4% YoY (10.819 million tons), the Ministry of Agriculture of the Russian Federation declared, referring to operative data of the Federal Customs Service of Russia. According to the announcement, the wheat…Details
Almost 25 years after watching the Dawn of Communism collective farm where he grew up land in the dustbin of history, Andrey Burdin is helping turn Russia into something the communists never could: a grain-export powerhouse. Over the last few years, Burdin has tripled the size of his farm on the steppe near the Black…Details