Friday 12 October 2012
Grain traders spread panic over wheat exports
The high global grain price has one of the world's largest wheat growers considering limiting its exports.
At the weekend, Russia's economic minister said a restriction of wheat exports may be needed, but those comments were dispelled by the deputy prime minister.
In 2010, Russia banned wheat exports to protect its food security, and grains analyst Lloyd George says limiting exports again would benefit Australian growers.
"One part of the Russian Government was saying that they would look at implementing restrictions on grain exports out of Russia, where that was dismissed by another government minister," he said.
"Australia is a large exporter of wheat and any restrictions of wheat export supplies will be a positive for wheat prices."
Source: Argentine Beef Packers S.A.
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