Why are EU sanctions dangerous for consumers of Russian grain?

Published Jun 5, 2024

Tridge summary

The article highlights the impact of the EU's protective duties on Russian grain, with a particular focus on durum wheat for pasta production. Despite these duties, Russia is expected to remain the leader in wheat supplies on the global market. The smaller harvest this year, due to adverse weather conditions, is not expected to significantly affect Russia's export positions. The article also discusses the strategic advantages of Russia's location, its competitive pricing and quality in grain exports, and its growing influence in setting market terms. Additionally, the article touches on the challenges arising from sanctions and the need for strategic adjustments in financial and trade practices to mitigate their impact.

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

Original content

Protective duties on Russian grain from the EU will not cause us any harm. But the difficulties in calculations are getting worse. This year's harvest will be smaller due to frost and drought, but Russia will remain the leader in wheat supplies to the world market. And the farmers themselves will be able to earn more. Chairman of the Board of the Union of Grain Exporters Eduard Zernin spoke about this in an interview with RG. In 2023, Europe willingly bought durum wheat from us for pasta production. But recently the EU imposed protective duties on the import of Russian grain. Where can we now supply durum wheat, the export restrictions on which have recently been lifted? Eduard Zernin: Europe is such an insignificant case for us, its limitations for us are like a mosquito bite. The figure cited is approximately 5 million tons of annual supplies of Russian grain. But European officials, to put it mildly, lied when they counted not only the grain itself, but also the by-products of ...

Source: Zol