By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
OOLP Maritime World NewsOOLP Maritime World News
  • Home
  • Maritime News
    • Top stories
    • Global Maritime
    • International Shipping
    • Cruise
    • Ports
    • Security & Piracy
  • Live Marine Traffic
  • Events
  • Company
    • About OOLP
    • Contact us
  • Blog
Reading: Russia has no plans to halt wheat exports – sources
Share
Notification Show More
Latest News
Eastern Pacific Shipping taps GSI for more LNG dual-fuel tankers
Global Maritime News
Gelen Marine Celebrates 10th Anniversary
Cruise
China May soybean imports hit record 12 million metric tons
Shipping news
Fujairah’s fuel oil inventories rise 4% this month
Port news
Royal Navy Conducts Drug Seizures and Assists with Iranian Incident
Global Maritime News
Aa
OOLP Maritime World NewsOOLP Maritime World News
Aa
Search
  • Home
  • Maritime News
    • Top stories
    • Global Maritime
    • International Shipping
    • Cruise
    • Ports
    • Security & Piracy
  • Live Marine Traffic
  • Events
  • Company
    • About OOLP
    • Contact us
  • Blog
Follow US
© 2022 - All Rights Reserved. OOLP News.
OOLP Maritime World News > Shipping news > Russia has no plans to halt wheat exports – sources
Shipping news

Russia has no plans to halt wheat exports – sources

Last updated: 2023/03/25 at 7:27 AM
92 Views
Share
3 Min Read
SHARE


Russia has no plans to halt wheat exports but wants exporters to ensure prices paid to farmers are high enough to cover average production costs, two sources familiar with the matter, told Reuters on Friday.

This would mean keeping export prices for wheat at or above $275 to $280 per tonne, they added.

Russian Vedomosti business daily reported earlier on Friday, citing two unidentified sources, that Russia could recommend a temporary halt in wheat and sunflower exports after a sharp drop in global prices in recent weeks.

- Sponsored Ads -

There is no such plan, the sources said.

However, since recent falls in wheat prices in Chicago and Paris, the Russian government became concerned about local farmers getting enough money for their wheat to cover costs and recommended exporters avoid prices below those close to the current ones, one of the sources said.

The second source said that Russia recommended its exporters set a wheat export price of not lower than $275 per tonne “until further notice”. Those who do not obey might face problems with obtaining phyto certificates needed for export supply, he added.

Russia’s agriculture and economy ministries declined to comment.

Prices for Russian wheat with 12.5% protein content, delivered free on board (FOB) from Black Sea ports, fell $13 to $277 a tonne last week, according to the IKAR agriculture consultancy.

Wheat prices in Chicago Wv1 rose on Friday, breaking a four-session fall and moving away from a 20-month low hit on Wednesday. The market was supported by Vedomosti’s report.

“In the physical grain market, much more serious factors matter – food security, consumption per capita, logistical and infrastructure constraints, and of course the cost of production,” the Russian Union of Grain Exporters said on social media on Friday.

“There is no need for discussion here. Obviously, no one will sell below production cost, which in terms of FOB is about current’s price level,” it added.
Source: Reuters (Reporting by Polina Devitt; additional reporting by Darya Korsunskaya; editing by Jonathan Oatis)



You Might Also Like

China May soybean imports hit record 12 million metric tons

VLSFO cash premium extends slide on selling interest

China May coal imports fall on tepid demand, high inventories

Lasse Kristoffersen wins WISTA Norway Leadership Award 2023

admin March 25, 2023
Share this Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Copy Link Print
Previous Article The Mission to Seafarers celebrates 150 years of service with inaugural art prize
Next Article Channel ports and DFDS join forces to decarbonise cross-Channel transport
- Advertisement -

Latest News

Eastern Pacific Shipping taps GSI for more LNG dual-fuel tankers
Global Maritime News June 8, 2023
Gelen Marine Celebrates 10th Anniversary
Cruise June 8, 2023
China May soybean imports hit record 12 million metric tons
Shipping news June 8, 2023
Fujairah’s fuel oil inventories rise 4% this month
Port news June 8, 2023

OOLP maritime news is a portal that gets latest updates and happenings from the maritime & cruise industry across the globe.

Top maritime stories

Global maritime news

International shipping news

Cruise news

Maritime ports

Security and piracy

About OOLP news

Contact us

Live maritime traffic

Events

Blog

Follow US

© 2023 - All Rights Reserved. OOLP News.

  • Cookie Policy
  • Terms & Conditions
  • Disclaimer
  • Privacy Policy

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?