Rusagrotrans has raised its forecast for the wheat production in Russia in 2022 from 92.7 million tons to 94.1 million tons. A historically record production is expected in the southern parts of the country.
The first ship loaded with Ukrainian grain has left Odessa port and is due to arrive in Istanbul on 08/02/2022. The ship is loaded with 26,000 tons of corn for Libya.
The European Commission lowered its forecast for the corn production in the EU in 2022 by 5.9 million tons to 65.8 million tons, which is 7 million tons less than the production in 2021.
Lloyd's is ready to insure the export of Ukrainian grain across the Black Sea. Before the war, the insurance premium was 0.25% of the value of the cargo, but now it is 5%.
The memorandum concluded between Russia and the UN for the export of Russian wheat and fertilizers is valid for 3 years. In this regard, Russian Foreign Minister Lavrov is on a visit to African countries that are major buyers of Russian grain.
