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

Ags - Grains/Beans 281 China 2871 Consumer Staples 730 Egypt 3 Russia 99 Tariffs 1764 Turkey 59 U.S. 5149

The Russian government is applying a series of curbs including “flexible export duties” to cut outbound shipments of agricultural products 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. Wheat was the most significant accounting for 25.8% of Russia’s food exports. Turkey and Egypt were the largest buyers of Russian wheat and will need to find alternatives. Those could include the U.S. and Cana...

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