Indian Prime Minister Narendra Modi has boldly declared that his country is ready to “feed the world” following Russia’s invasion of Ukraine. Less than four months later, the government must consider importing grain, Bloomberg notes. Even before Modi made that pledge, a record-breaking heat wave that began in March threatened India’s wheat production. This reduced […]
Tag: wheat
Ukraine: Two more grain ships left Black Sea ports today
Two more ships sailed from Ukrainian ports in the Black Sea today, the Turkish Defense Ministry announced, bringing the total number of ships that have sailed from the country to 16. The Barbados-flagged Fulmar S sailed from the port of Chornomorsk carrying 12,000 tons of corn to the southern Turkish province of Alexandretta. The second […]
Falling food prices will not end the problem of world hunger
By David Fickling The food crisis of 2022 seems to be receding after it “broke out” so suddenly. Red spring wheat rose to nearly $13/bushel in March, prompting the world’s biggest wheat importer, Egypt, to devalue its currency. It now trades around $8, down more than a third. Indonesia suspended palm oil exports in April […]
‘Jump’ for the price of wheat after the blow of the Russians in Odessa
International wheat prices jumped on Monday after Russia’s weekend strike at the port of Odesa raised concern over whether agreements signed separately by Russia and Ukraine with the UN and Turkey to resume Ukrainian wheat exports of grain can finally be implemented and reduce the pressure on the food supply internationally, as reported by the […]
Wheat falls more than 3% on expectations of higher supplies from a Ukraine-Russia deal
Chicago-traded wheat fell more than 3 percent today on expectations of higher supplies from the Black Sea region as Russia and Ukraine are expected to sign a deal to open ports to grain shipments. Corn and soybeans extended losses in the previous session to hit 8- and 7-month lows, respectively, as forecasts of favorable US […]
5% plunge in wheat prices against the background of the Ukraine-Russia agreement
LAST UPDATE 20:48 Wheat futures fell sharply on the Chicago Mercantile Exchange on expectations of an increase in supplies from the Black Sea region, following the agreement signed by Russia and Ukraine. In particular, the most active wheat contract for September delivery is moving with losses of 5.24% at $7.64 a bushel. Corn and soybeans […]
London helps ensure stolen Ukrainian wheat does not reach the market
Britain is providing technology to ensure that any grain stolen from Russia by Ukrainian facilities does not reach the world market, British Environment Minister George Justis said today. Russia’s invasion of Ukraine on February 24 and the blockade of the Black Sea ports prevent the country, which is traditionally one of the world’s largest food […]
Egypt agrees to buy 180,000 tonnes of wheat from India instead of 500,000
Egypt has signed a contract to buy 180,000 tonnes of wheat from India, the country’s Procurement Minister Aly Moselhy said on Sunday, according to Reuters. The quantity is much smaller than originally agreed Egypt, one of the world’s largest importers of grain, is looking for alternatives after the blockade of grain exports from the Black […]
Egypt will restrict wheat imports as prices rise
Egypt plans to reduce wheat imports by 500,000 tonnes a year, or about 10%, by making more subsidized bread from its wheat, Supply Minister Aly El-Moselhy said, according to Bloomberg. The move comes as one of the world’s largest importers of wheat struggles with rising commodity prices as a result of the Russian invasion of […]
A desperate real estate company in China is willing to ‘exchange wheat for a house’
A desperate slow-moving real estate company in the Chinese market has found a new boost to attract buyers, giving them the opportunity to pay in advance… wheat or garlic. An advertisement for Central China Real Estate in Henan urging buyers to “exchange wheat for a home” states that they can use their crop, priced at […]