Japan Agricultural News: Cereal Export Restrictions in Producing Countries, Signs of Food Trade Disturbance

Published Jan 19, 2021

Tridge summary

Russia has imposed export taxes on wheat, rye, barley, and corn, causing concern as the largest exporter of wheat. The move, aimed at prioritizing domestic consumption, has led to worries of food resentment, political instability, and impact on international prices. Last year, 19 countries implemented food export restrictions, with Russia and Argentina not notifying the World Trade Organization. The U.S. Department of State announced underestimated corn and soybean inventories, partly due to strong import willingness from China. The potential effects on international prices have raised concerns for Japan, despite its low corn imports.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

It was hard to feel like "New Year's holidays" due to the coronavirus, but the food trade scene was also tense this year during the year-end and New Year holidays. Triggered Russia. Will impose export taxes on wheat, rye, barley and corn. ”According to the official bulletin, 25 euros per ton (about 125 yen per euro) will be collected for wheat exports throughout February 15 or June. By the way, last Friday, it was decided to double the amount to 50 euros. "It seems that the Russian government has decided that 25 euros is not effective," a grain industry official explained. Russia for several years. It is by far the world's largest exporter of wheat, exporting more than 30 million tons every year. Naturally, a tremor struck the world. This time export restrictions, the currency ruble depreciated around November last year, and domestic inflation pressure increased. The reason is that it leads to food resentment and political instability. President Putin instructed the Prime Minister ...

Source: 日本農業新聞