harvest time

Russia can increase grain exports by a third in December

The Russian Federation can in December about 4,5 million Tonnen Grains export, 32,4% higher than in December 2021, but the risks of worsening banking conditions and attempts to discriminate against Russia's biggest exporters are feared, Eduard Zernin, chairman of the board of the Russian Union of Grain Exporters, told the reporter.

After the publication of the situation with hidden sanctions and the intervention of the international community, the situation with the export of Russian is normalizing Grains gradually. We believe we will ship around 4,5 million tonnes outside the EEA in December against 3,4 million tonnes a year earlier.

Edward Zernin

Chairman of the Board of the Russian Union of Grain Exporters

According to the Union, the main risks of the second half of the season are fears of a possible worsening of the banking situation due to the extension of sanctions, as well as a change in the discrimination vector.

After the failure of the wide-ranging sanctions barriers, our yesterday's partners apparently decided to move to the practice of discrediting Russia's largest exporters. How much they will be successful in this and what it can lead to, the near future will show.

Edward Zernin

Chairman of the Board of the Russian Union of Grain Exporters

“In the first half of the season we expect to export 26 million tonnes of grain, up from 23,6 million a year earlier, an increase of 10%. That's not bad, of course, but the potential of the current season is significantly higher. We hope that the fall in world prices will stimulate demand and the weakening of the ruble will increase the return on sales,” added Körnin.

Last week, the head of the Ministry of Agriculture of the Russian Federation, Dmitry Patrushev, commented on VTB boss Andrei Kostin's proposal to restrict the work of foreign grain traders in Russia, saying that Russia does not want to restrict the work of foreign grain traders in the country, but in case of an independent desire to exit the market will find a substitute. In November, several experts told RIA Novosti that the EU's review of lifting restrictions on Rosselkhozbank and connecting it to SWIFT would make it easier to conduct the grain deal, but they doubted any drastic moves to do so.

Source: Premium (Russian)

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