International trade - Incubator

Saudi Arabia has issued a tender to purchase 595,000 tons of wheat with 12.5% protein content. Deliveries are planned to the ports of Jeddah, Yanbu, Dammam, and Jizan. The evaluation of the results is scheduled for July 1.

Investors in China are planning to invest over $1 billion in the construction of plants for the production of aviation fuel from used oil. The plans include launching production within 18 months to produce over 1 million tons of fuel per year, which will account for 2.5% of China's annual consumption.

Additionally, a SAF production plant is currently under construction in Sichuan province.

According to "Agroexport", by 2030, the export of rapeseed oil from Russia could reach 2 million tons. The rapeseed cultivation areas by 2023 have doubled, reaching 2.1 million tons, mainly in the Siberian Federal District.

In 2023, the export increased by 58%, reaching 1.55 million tons.

In July 2024, Kazakhstan is expected to have a normal level of humidity, but the area of atmospheric drought is expanding to several regions. In other areas, the humidity conditions will remain normal. Kazhydromet leaves open the possibility of refining the forecast.

The Ministry of Agriculture of Russia has lifted export duties on sunflower oil, reduced the duty on meal, while maintaining the rate for oil. Prices for oil and meal have slightly decreased. The base price for meal has increased starting from 01.09.2023. Duty calculation starting from 07.2022: 70% of the difference between the base and market price for oil, and for meal - a formula with a coefficient of 0.7.

Truck owners in the European Union countries need to return and update the documents of Ukrainian transport by July 10th. Key documents in English and vehicle marking are required. The validity period of the "transport visa-free regime" has been extended until 2025.

Export of rapeseed oil from Russia is planned at the level of 2 million tons by 2030. Russia ranks third in the world in the production of rapeseed oil. In 2023, the sowing area of 2.1 million tons exceeded the previous figure by two times. Export of rapeseed oil in 2023 increased by 58%, reaching 1.55 million tons.

The Head of the Altai Region met with the company "Blago" at the St. Petersburg International Economic Forum. The construction of a sunflower processing plant in Rubtsovsk with investments exceeding 14 billion rubles is planned. The products are intended to be exported to China. The project will create up to 360 new jobs and is expected to be completed by 2030.

The agroholding "KazFoodProducts" from Kazakhstan has been awarded the EDGE gender equality certification, becoming the first certified enterprise in the country. Gender equality helps to increase the efficiency of companies, thus boosting the GDP. The holding company comprises 20 subsidiaries and exports its products to various countries.

Prices for agricultural products in Russia: sunflower - 26.7 thousand ₽, corn - 11 thousand ₽, soybeans - 35.4 thousand ₽.

World prices: sunflower +1.4%, corn -0.6%, soybeans -0.8%.

In Russia, 54.1 million hectares are sown, including 10.4 million hectares with sunflower, 2.6 million hectares with corn, and 4 million hectares with soybeans.

South Korean organization FLC has purchased 66,000 tons of corn from ADM Trading House at $242.99 per ton on C&F terms.

Delivery from South America is scheduled from August 17 to September 15, and from South Africa from August 27 to September 25. (source: Grain Online)

Due to the high soil moisture in Primorye, soybean sowing has been delayed. According to the Ministry of Agriculture, only 33% of the plan has been sown due to prolonged floods. Farmers have faced difficulties due to the wet soil.

Rice planting has been completed earlier.