Russia – Turkey: an apple of discord

23.03.2017

The breaking news of the last week was another exacerbation of the Russian – Turkish trading relations.

On March 15, Turkey suspended the issuance of licenses for duty-free wheat and corn deliveries from some EU countries and Russia. This decision also applies to sunmeal and vegoil supplies from Russia.

According to new conditions set out by Turkey, Russia can only supply its wheat upon payment of an actually prohibitive duty of 130%, reports UkrAgroConsult.

The loss of the Turkish market gravely jeopardizes the realization of Russia’s wheat export potential, which had already become unattainable.

It should also be noted that Russian wheat and corn exports to Turkey had already fallen this season despite growing import needs of the country.

Full version of the article is available to subscribers for weekly market report “Black Sea Grain & Oil” and “Online market review” by UkrAgroConsult.

Further prospects of the Black Sea grain market in the upcoming 2017/18 season will be discussed at the XIV International Conference “Black Sea Grain: Wind of Change”, which will take place on April 5-6, 2017 in InterContinental hotel, Kiev, Ukraine.

Black Sea Grain conference is large international platform, offering high quality market analysis and networking opportunities for the global leaders of grain and oilseed industry. The event is annually attended by over 800 agribusiness representatives from more than 400 companies and 50 countries worldwide.

 

UkrAgroConsult

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