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UKRAINE- Ukrainian officials say that Russia continues to block the recently renewed Black Sea Grain Initiative by halting the registration of ships to all Ukrainian ports, according to a Reuters report. According to the UN, only 33 ships departed from Ukrainian ports in May, half the number compared to April. Moreover, the average daily inspection rate for ships had fallen…
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TURKEY- According to a televised speech by Turkish President Tayyip Erdogan, the Ukraine Black Sea grain deal has been extended for two more months, merely hours before Russia could have quit the pact over obstacles to its grain and fertilizer exports. The U.N. Secretary-General Antonio Guterres hails this as “good news for the world,” as the flow of ships through…
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RUSSIA- Wheat exports from the world’s largest grain exporter, Russia, continued to thrive during the 2022/23 marketing year with ample supplies and competitive prices and are likely to hit a record 45.0 million tons, according to a report by the foreign agricultural service (FAS) of the United States Department of Agriculture (USDA). Moreover, export volumes could be even higher had…
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UKRAINE- Ukrainian officials said the Black Sea Grain Initiative was in danger of shutting down after Russia frustrated inspections of participating ships in Turkish waters, according to a report by Reuters. Ukraine’s restoration ministry said in a Facebook post headlined “Grain Initiative under threat of a shutdown” that this is the second time in 9 months of operation of the…
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RUSSIA- Louis Dreyfus Company announced that it would cease grain export operations from Russia at the start of the new trading season in July. This announcement comes within days of Cargill and Viterra announcing that they also would drop export activities in Russia. “Louis Dreyfus Company (LDC) will cease grain exports from Russia from July 1, 2023, as grain export…
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RUSSIA- Viterra Ltd. is exiting the origination and export market in Russia, a day after Cargill announced its exit from the same market. “Following continued monitoring of the situation over the past year, Viterra has concluded that its activities in Russia no longer fit the long-term direction of the company,” Viterra said. Reuters reported that Nikolai Demyanov, the head of…
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RUSSIA – Cargill will take a further step back in elevating Russian grain in the new export season starting in July. “As grain export-related challenges continue to mount, Cargill will stop elevating Russian grain for export in July 2023 after the completion of the 2022-2023 season,” Cargill said. Cargill had already stopped new investments in Russia, operating only essential food…
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RUSSIA – Russia is adamant about not stretching the Black Sea Grains Deal further and is willing to send free grain to African countries if those conditions remain unmet, said President Vladimir Putin. Russia has been insistent about not renewing its support for the black sea deal if blockages on its agricultural exports persist. According to Russian authorities, while Western…
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GLOBAL- Russia agreed to allow an extension of the Black Sea grain deal for 60 days, instead of 120 days, pushing the deadline two months into the future. The last few weeks have carried an air of anticipation of the renewal of the Black Sea grain deal, whose 18th March deadline was looming. There have been numerous talks among Russia,…
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AFRICA – The impact of the Russo-Ukrainian war has forced many millers from the Eastern and Southern parts of Africa to venture deeper into Europe in search of a stable supply of wheat. This was revealed by Marvin Jaeger, AIT Regional Manager Africa, and the Middle East while presenting the 2023 wheat update to attendees at the just concluded Milling…
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