the World is likely to remain without Russian wheat for the first time in ten years, in that time, as several key importers rush to import, reports Bloomberg.
on 26 April the agriculture Ministry announced that Russia suspends grain exports to States not members of the Eurasian economic Union till July 1, 2020 after chosen was established by the government export quota.
according to the Agency, despite the fact that the suspension of exports will last until July, some neighbouring countries have also restricted the export of grain, “which poses a threat to change the direction of world trade and fueling concerns about food shortages and higher prices”.
the Agency points out that some States, from Egypt to Turkey, “trying to load the import while you still can, and Russian suppliers meet this demand.” Now, the Agency says, “this window was quickly closed.”
In early April the Russian government introduced a temporary quota on the export of wheat, meslin, rye and barley in the amount of 7 million tons. On 26 April the agriculture Ministry announced that non-tariff quota on grain exports from Russia in the amount of 7 million tons was selected in full, in connection with which Russia has suspended grain exports to States which are not members of the EEU, until July 1, 2020.
