The battle for global grain markets continues

Published Feb 29, 2024

Tridge summary

The grain market's recovery is hindered by high grain volumes in Russia, Ukraine, and Europe. The Green Deal legislation is under review, and Moscow plans to reduce wheat export tariffs from 2024. Meanwhile, Latvia has banned imports from Russia and Belarus until 2025, and Ukraine plans to export its 2023 grain harvest via the Black Sea, causing a 38% drop in grain shipments through Romania's Black Sea port. Polish farmers are blocking Ukrainian grain trucks due to increased competition following a 300-fold increase in agricultural products transported through Poland from Ukraine. Despite this, Poland's president assures continued support for Ukraine's EU path.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The recently established downward trend on the grain exchanges and markets has stopped, but it is still too early for the markets to recover. Grain volumes available in Russia, Ukraine and Europe suggest a fierce battle for market share that will not lead to any immediate price growth. At local level, a ministerial council has decided to urge the Agriculture Council to carry out a comprehensive review of the Green Deal legislation. The simplification of the procedure for changing the Strategic Plan is also extremely important in the short term, the Council of Ministers announced after the government meeting. Along with this, it is necessary to trace the cumulative effect of the measures in the free trade agreements, as well as to provide for a reciprocity clause to ensure the observance of uniform production standards for food quality and safety on both sides. The question of equalizing the levels of direct payments is another part of the demands before the Council. Looking to the ...
Source: Agri
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.