We should expect an increase in wheat prices in Azerbaijan

Baku / 12.03.22 Russia Customs Tariff and Subcommittee on Non-Tariff Regulation Russia The Federation has approved a decision to impose a temporary ban on grain exports to the Eurasian Economic Union (EEU) until August 31, 2022. According to the Ministry of Economic Development according toTo the countries of the Eurasian Economic Union, as well as sugar and The export of raw sugar outside the union is also banned. I must note that, Azerbaijan of this decision and It does not apply to countries that are not members of the Eurasian Economic Union.

Following this decision, the countries of the Eurasian Economic Union will continue to easily import wheat from Russia on preferential terms and meslin, rye, barley, snowthey will not be able to get food. Russia The Ministry of Agriculture believes that, EEU countries have received the required amount of grain duty-free this season.

The statement came from Eduard Zern, chairman of the board of the Russian Grain Exporters’ Union that, AII partners “have long received reasonable grain volumes.” Zernin also mentioned it that, Kazakhstan and Kyrgyzstan has sharply increased grain purchases following the introduction of export quotas by the Russian Federation.

Vice President of the Russian Grain Union Alexander Korbut told the press that, Kazakhstan received 2.5 million tons more wheat than planned. He thinks that, Russian grain goes “to other markets via domestic Kazakhstan” to non-EU member states. However, Uzbekistan had to pay the export duty by importing the same amount of wheat from Russia.

Thus, at a time when the price of wheat in the world market has risen sharply, the Russian government is working that, export of grain beyond the borders of the union countries snowtake the bottle and let him have these opportunities.

The Russian Ministry of Agriculture reports that, At present, grain supplies in Russia exceed 150%. That means it that, Russia’s grain reserves exceed demand by 50%. Russian government sugar and connects the imposition of a ban on the export of raw sugar outside the union with the protection of the domestic market in the current situation. Our research shows that, Over the past few days, there has been a serious shortage of sugar in Russian markets.

ASTNA expert Vahid Maharramov notes that, Azerbaijan meets the bulk of its demand for food wheat, 55-60% in some years and even 70% in some years, imported from Russia. Azerbaijan also imports 45% of the raw sugar used for sugar production from Russia. If Russia increases the export duty on wheat, flourflour products and bread prices are expected to rise. — 0—