News

Indonesia opens its market for Russian corn and soybeans

27 September 2018

Now Indonesia can import corn and soybeans from Russia. Indonesian Ministry of Agriculture informed Rosselkhoznadzor about this.
According to Indonesian Agriculture Ministry, Indonesia may open its market for Russian rye and peas before November 2018.
At the same time, Russia exported 5.5 MMT of corn in September-July 2017/18 that is comparable with the volume it supplied to foreign markets in the same period last season.
Russian corn exports plummeted in July 2017/18 against the previous month, to 253.3 KMT (-56.6%). In addition, it is 33.4% less than shipped abroad in July 2016/17, reports UkrAgroConsult.
The key global regions purchasing Russian corn in MY 2017/18 are Asia and the Near East, which absorb a combined 90% of grain exports. So, four out of the top five corn importers include Turkey, Iran, South Korea and Lebanon. The greatest gain in imports over the reporting period was shown by Turkey, which boosted them by 123%. The EU is the only destination market on the top five list that reduced imports at the time: it purchased just 340.9 KMT, or 63% less than a year ago.


http://www.blackseagrain.net/novosti/indonesia-opens-its-market-for-russian-corn-and-soybeans