News

Farmers may gather 67 million metric tons, according to market researcher UkrAgroConsult. The Institute for Agricultural Market Studies, or Ikar, pegs the crop at 67.5 million tons. Those would be the second largest after the estimated 73.3 million tons gathered last year. Read more

Surging oil prices that have helped revive the country’s energy-rich economy also drove the ruble up about 40 percent from last year’s lows. Read more

The large volume of cheap Black Sea wheat currently flooding world markets — as well as a big North American harvest — pushed global wheat prices to a new low of $US180 a tonne this week. Read more

The decision of the government to reduce wheat export duty to zero from September 15, 2016 until July 01, 2018 was very important news last week. Russia intends to increase wheat exports to all-time high in the current season. Read more

Andrey Sizov at grains and oilseeds consultancy SovEcon in Moscow puts down the rise in production for the past four years to “luck, good weather and increased agritechnologies level thanks to relatively good economic conditions for farmers in previous years”. Read more

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