Russia can have the highest grain harvest in its entire history in the 2016-2017 agricultural year, Prime Minister Dmitry Medvedev said. “We can expect quite decent results, maybe, I do not want to say too early but these will be the results of a really high level over the last decades, maybe over the entire…
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…
According to Ukrainian office of statistics, as of August 1, stocks of grains and legumes were at 23.9 MMT, down by 2.5% YoY (24.5 MMT). Wheat stocks decreased by 5%, to 16.62 MMT against 17.54 MMT as of August, 1 2015. Barley stocks dropped by 5%, to 3.958 MMT. Corn stocks are 18% lower than…
The Ministry of Agriculture of Russia has made changes to the structure of its central administration unit, abolishing the agricultural and food market regulation, food and processing industry and creating two separate divisions. The Department of Agro-Industrial Market Regulation will be headed by Vladimir Volik and will focus on the strategic planning and management of…