Russia has taken full control of the global wheat market – Bloomberg


09/17/2023 06:41

Enterprises of the Russian agro-industrial complex reported on record wheat harvestwhich will allow Moscow to completely control the world wheat market.

Russian grain sellers have coped with the financial and logistical difficulties that arose after the introduction of Western sanctions, American experts note.

“Russian wheat does not have many competitors. At the moment, Russia determines the price,” grain market analyst Strategie Grains quotes Helen Duflo agency Bloomberg.

Taking advantage of their position, traders from the Russian Federation set the minimum price for wheat in the world, which allowed them to increase the corresponding revenue item of the Russian budget by a quarter, to $28 billion.

Author Anton Utkin

Anton Utkin – journalist, correspondent for the Pravda.Ru news service

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