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Novorossiysk port boost wheat exports before Ban Effective, Says SovEcon
Ports in the city of Novorossiysk, Russia’s main gateway for grain exports, boosted outbound shipments 37 percent in the first two weeks of August ahead of a government ban, SovEcon said
The ports on the Black Sea shipped 558,000 metric tons of grain in the
period, including 510,000 tons of wheat, the Moscow-based researcher
said. The “overwhelming” amount was bound for Egypt, the world’s biggest
wheat buyer, it said.
About a third of the grain was supplied by United Grain Co., the
country’s state trader, while Glencore International AG’s Russian unit,
International Grain Co., was the second- biggest shipper in the period,
SovEcon said.
Russia’s total grain exports before the ban came into effect on Aug. 15
could be about 1 million tons, according to government estimates.
Source: Bloomberg
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