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Sunday, 16 September 2018

Russia institutes tougher checks on outbound wheat

Russia institutes tougher checks on outbound wheat: Russian watchdog Rosselkhoznadzor said on Friday that it would institute new and tougher checks on wheat exports after a rise in complaints in the past three months from its major grain buyers including Egypt, Vietnam, and Indonesia, Reuters reports. Rosselkhoznadzor said checks of 5-10 days were needed for shipments bound for Egypt, Ecuador, Vietnam, Sudan, Venezuela and Israel, but noted that these were not new and were not aimed at limiting exports. Some traders said the new controls were excessive and could cause delivery disruptions on signed contracts.

Traders are also fearful that the move would usher in new trade restrictions. Traders had previously said Russia could consider restricting exports once they reach 30 mn tonnes of grain this season, which started on July 1. The country has exported 9.8 mn tonnes of grain so far.

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