Wheat prices spiked after a Russian announcement that it would withdraw from the Black Sea export agreement, a decision which is expected to have a negative impact on the market. On Monday, the most active contract on the Chicago Board of Trade (CBOT) rose by 5.7 percent as of 4:16 a.m. EDT, to trade at…
Wheat Climbs Over 5 Percent to 2-Week High as Russia Suspends Black Sea Agreement
October 31, 2022
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Russia Imposes Ruble Restriction on Countries Buying Wheat and Sunflower Oil
July 3, 2022
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Business & MarketseconomyEuropeInternationalMarketsRussia-Ukraine WarRussian rubleRussian sanctionssunflower oilwheat exportWorld
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Russia, facing sanctions from the West for its invasion of Ukraine, will now export grains to other nations only in exchange for rubles. In addition to grains, the Russian government has added sunflower oil and extracted meal to the list of export items to be paid in rubles. A resolution to this effect was adopted…
Ukrainian President Warns of ‘Severe Food Crisis and Famine’
June 12, 2022
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Business & MarketseconomyEuropefood crisisInternationalMarketsRussia-Ukraine Warsunflower oilUkrainian President Volodymyr Zelenskywheat exportWorld
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Ukraine’s President Volodymyr Zelenskyy warned of a global food crisis following Russia’s invasion of his country, during a virtual speech addressing attendees at the Shangri-La Dialogue in Singapore on June 11. “The world will face an acute and severe food crisis and famine,” he said to the 575 delegates from 40 countries at the dialogue,…
India Open to Exporting Wheat to Needy Nations Despite Ban
NEW DELHI—India on Sunday said it would keep a window open to export wheat to food-deficit countries at the government level despite restrictions announced two days earlier. India’s Commerce Secretary B.V.R. Subrahmanyam told reporters the government will also allow private companies to meet previous commitments to export nearly 4.3 million tons of wheat until July….
India Bans Wheat Exports Over Food Security Concerns
India has banned wheat exports, citing heightened risk to food security in the country and some of its neighbors arising from a sudden spike in the global prices of wheat. India’s Directorate of Foreign Trade made the announcement in a government publication (pdf), which said the wheat export ban seeks to address the difficulty India…
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