UKRAINE ESTABLISHING NEW GRAIN EXPORT ROUTE
Jim McCormick with AgMarket.Net tells Brownfield Ukraine is expected to utilize a new corridor along the Danube River. “This is a verified report,” he said. “They made this announcement just recently at the Munich Security Conference. He says Ukraine’s goal is to bypass Poland. “There’s a lot of conflict with grain being railed into Poland because the Polish farmers feel like it’s driving their prices down. The Polish farmers are essentially blocking routes into the country as a way to keep the Ukrainian grain out.” McCormick says the new route could impact U.S. wheat prices.
(Link: BrownField)
INDONESIA ALLOCATED AN ADDITIONAL RICE IMPORT QUOTA OF 1.6 MILLION TONS OF RICE THIS YEAR
Indonesia has allocated an additional rice import quota of 1.6 million tons for 2024, after importing near-record volumes last year, as dry conditions related to the El Nino weather pattern delayed and postponed the harvest in this country. Asian rice prices are near a 16-year high after India, the world’s top supplier, restricted exports last year. Reduced Indonesian rice output threatens to further tighten supply, pushing up rice prices.This country’s Ministry of Commerce official, Arif Sulistiyo, said Indonesian rice output from January to March is expected to be 2.82 million tons lower than the same period last year.
The commerce ministry is working to issue import licenses for the additional allocation, Arif added. However, National Food Authority Director Arief Prasetyo Adi told reporters that the government is focusing on implementing the previously approved 2 million tons of rice import quota, while the additional quota will be done later if needed. Indonesia, Southeast Asia’s largest economy, imported 3.06 million tons of rice in 2023, near a record. In Indonesia, rice retail prices are higher than the ceiling set by the government amid supply concerns.
(Link: Vina.net)
