August 05, 2014

05/08/2014: Ukrain and Russia wheat exporters poised for strong sales

Russia and Ukraine, both major Black Sea grain exporters, are poised for strong sales campaigns despite political crisis and economic sanctions with their near record harvests set to beat struggling French wheat in key world markets, traders said.

Western countries have imposed sanctions on Russian banks and several companies, limiting their access to medium and long-term financing over Moscow's support of rebels in Ukraine and the annexation of the Crimean peninsula.


However, they have left short-term finance, crucial for Russian trade, unaffected so far, which together with the coming financial help for Ukraine will allow the near-record harvests in both countries to dominate their markets.


"Russia will most likely remain a successful grain exporter this year as sanctions did not impact short-term credit," an unidentified Kiev-based trader with a large Western firm said. He also expects Ukrainian wheat exports to remain high.


Read more HERE.
 

The Global Miller
This blog is maintained by The Global Miller staff and is supported by the magazine GFMT
which is published by Perendale Publishers Limited.


For additional daily news from milling around the world: global-milling.com

No comments:

Post a Comment




See our data and privacy policy Click here