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Tuesday, 14 November 2017

How Russia came to dominate the global wheat market

Russia is now the dominant supplier of wheat globally, Bloomberg Businessweek’s explores in a report. Russia’s output of wheat has surged in recent years as good growing conditions boost farmers’ profits, allowing them to reinvest in better seeds and equipment. Now, about half of the countries in the world are buying Russian wheat, with Egypt being its top customer. Their biggest selling point is price and “Russia’s dominance also gives it the power to shake up world markets.”

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