for the First time in ten years, the world risks being cut off from Russian wheat at a time when some key buyers in a hurry to import, according to Bloomberg.
the Main exporter of grain from 1 April limited the supply of grain outside of the EEU until the end of the season to protect the domestic market, says the publication. Government set quota of 7 million tons was exhausted on April 26. And now, as soon as the last cargo in the framework of this quota will leave the country, Russia will before the end of the season to ship grain only four of its neighbors in the Soviet Union.
Bloomberg notes that several other countries have also restricted the export of grain. In this situation, many countries are trying hard to import grain. Until the last moment Russian shippers have fuelled the demand. But now that window has been closed.
in Addition to the serious demand from importers, the interest of Russian wheat were supported by a weak ruble. In addition, the sale of grain from government stocks – another measure designed to protect the domestic market, have helped to contain domestic prices and to maintain the competitiveness of exports, according to Bloomberg.
