Russia, Ukraine, Turkey and UN to hold grain export talks on Wednesday as Russia expects ‘massive’ wheat harvest • Farm Policy News

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Reuters writer Max Hunder reported yesterday that “Ukrainian President Volodymyr Zelensky said on Monday that he had held talks with the Turkish leader Tayip Erdogan on the need to unblock Ukrainian ports and resume grain exports.

“’We appreciate the (Turkish) support. Discussed the importance of unblocking (Ukrainian) ports and resuming grain exports. We must also prevent Russia from taking our grain of (occupied territories),” he tweeted.

A separate Reuters News article yesterday reported that “Russian President Vladimir Poutine and Turkish leader Tayyip Erdogan plan to meet soon after a phone conversation in which they discussed efforts to facilitate grain exports from Ukraine, the Kremlin said on Monday.

Turkey mediated between Moscow and Kyiv since Russia sent its armed forces to Ukraine on February 24. The latest talks between representatives of Russia and Ukraine took place in Istanbul at the end of March.

“Turkish state-run Anadolu news agency said Erdogan told Putin on Monday that it was time to act on a united nations plan establish a maritime corridor for Ukrainian grain exports via the Black Sea,” the Reuters article said.

And today, Reuters News reported that,

A new round of talks between Russia, Ukraine, Turkey and the United Nations on Ukraine’s grain exports will take place in Istanbul on WednesdayIreported the Interfax news agency, citing the Russian Foreign Ministry.

As talks continue, Reuters writer Pavel Polityuk reported yesterday that, “Grain exports from Ukraine in the first seven days of July, the first month of the new 2022/23 season, fell by 30% over one year to 402,000 tons, the Ministry of Agriculture announced on Monday.

“Ukrainian Farms Face Overflowing Silos Even as Harvest Shrinks,” by Megan Durisin. Bloomberg News (April 26, 2022).

“The government said that Ukraine could harvest at least 50 million tonnes of grain This yearcompared to a record 86 million tonnes in 2021due to loss of land to Russian forces and declining grain yields,” the Reuters article said.

Meanwhile, Reuters News reported today that “farmers in Russia’s southern Rostov region, one of the country’s largest grain-producing and exporting regions, are see high wheat yields as harvest begins, growers and area officials said.

“Sanction-hit Russia, the world’s largest wheat exporter, is expected to produce a massive harvest in 2022 with record amounts available to supply overseas during the July-June marketing season.

“Markets brace for chaotic trade after India bans wheat exports”, by Emiko Terazono and Benjamin Parkin. The Financial Times (May 14, 2022).

However, Reuters News yesterday reported that “Russian wheat exports expected to remain subdued in July despite lower export taxes, a massive harvest and a weakening ruble logistics and trade finance issues caused by Western sanctions persist.

“The largest wheat exporter in the world is record quantities of the crop are expected to be available for overseas supply during the July-June marketing year, and sharply reduced grain export taxes on July 1 to support shipments.

“The agricultural consultancy firm IKAR said on Monday that it downgraded its forecast for Russia’s July wheat exports to 1.7-2.0 million tonnes compared to forecast 2.0-2.3 million tons. »

Meanwhile, a recent Financial Times opinion piece pointed out that “even some food prices, the rise in which has been one of the most tragic consequences of Russia’s war on Ukraine given the the latter’s key role as a supplier of agricultural products, returned to the land. Wheat is now trading at the same price as before the invasion, and nearly 40% below the May peak.”

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