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Russia’s food price worries create another opportunity for U.S. farmers

Ags - Grains/Beans 277 China 2820 Consumer Staples 707 Egypt 3 Russia 95 Tariffs 1741 Turkey 58 U.S. 5046

The Russian government is applying a series of curbs including “flexible export duties” to cut outbound shipments and control food price inflation. That represents yet another distortion to global food supply chains in the wake of the pandemic. Russian food exports are dominated by wheat, fish and vegetable oils which accounted for 58.4% of exports in 2019, led by wheat’s 25.8%. Turkey and Egypt were the largest buyers of Russian wheat and will need to find alternatives, potentially including the U.S. and Canada which represented 15.9% and 14.6% of global exports in 2019. Shipments from ...

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