Wheat stays out of Russia-Turkey crisis

13 January 20162 min reading
An announcement from Russia indicates that wheat stays out of the crisis while Turkey which imports 74 percent of its quality wheat demand from Russia was considering to import from Kazakhstan and Ukraine in case of any restriction.  haber4The warplane crisis between Turkey and Russia brought the wheat trade into question. According to the news of Reuters, for several weeks after that, Russian and Turkish traders held back from signing new contracts, fearing Moscow could suspend grain exports to Turkey or Ankara could curb purchases, the traders and analysts said. While Turkey which imports around 5 million tons of wheat with high protein quality was considering was considering importing from Kazakhstan and Ukraine in case of any restriction an announcement related with the issue came from Russia. Giving a speech about the issue, Arkadiy Dvorkoviç, Vice President of Russia said: “Wheat trade with Turkey will be out of the crisis. Turkey may choose not to buy wheat from us. To be honest, we do not expect such a step. As Russia, our intention is to keep the wheat trade out of the crisis. Any restriction on wheat sales to Turkey is out of question.” Manager of Russian SovEcon Agriculture Consultancy, Andrey Sizov said: “Concerns over possible supply disruption to the Turkish market, which existed in late November, early December, have not materialized. Referring to Turkish buyers, a Moscow-based grain trader said, "We have no problem, they are buying from us." Another Russian trader also said sales to Turkey had resumed, and that there had been no informal restrictions from Moscow so far. A consultant who advises Turkish grain buyers in Russia, who declined to be named, also said that Turkish traders were now signing new deals with Russian suppliers. Russian watchdog Rosselkhoznadzor, which oversees grain exports, said supplies to Turkey were continuing as normal. Also news show that Russian wheat exporters gave a discount for wheat that is sold to Turkey and the price of wheat decreased from 215 dollar/ ton to 200 dollar/ton.
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