{"id":554099,"date":"2021-12-20T04:05:17","date_gmt":"2021-12-20T04:05:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/20\/wheat-could-get-pricier-as-russia-mulls-higher-export-tariffs\/"},"modified":"2021-12-20T04:05:17","modified_gmt":"2021-12-20T04:05:17","slug":"wheat-could-get-pricier-as-russia-mulls-higher-export-tariffs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/20\/wheat-could-get-pricier-as-russia-mulls-higher-export-tariffs\/","title":{"rendered":"Wheat could get pricier as Russia mulls higher export tariffs"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a><strong> Brace yourself for pricier wheat as Russia mulls raising export tariffs on the grain: <\/strong>Russia, the world\u2019s largest wheat exporter, is considering imposing higher export tariffs if wheat prices reach USD 375 \/ ton, with a bigger hike proposed if prices reach USD 400 \/ ton, according to a government <a href=\"https:\/\/regulation.gov.ru\/projects#StartDate=17.12.2021&EndDate=19.12.2021&npa=123441\">proposal<\/a> that would see Moscow revise the formula used to determine the tariff. Prices are still trading at lower than the threshold above which the tariff would be raised, with wheat from Black Sea ports trading at USD 335 \/ ton as of last week, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-12-19\/russia-proposes-to-increase-tax-on-wheat-exports-if-price-rises?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>. Egypt, the world\u2019s biggest wheat importer and previously Russia\u2019s biggest buyer, has been forced to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01393c38-caed-41c5-a0dd-1d4724b14015\">diversify<\/a> its wheat purchases as it faced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ca352b4-6229-4ab6-a4ba-a889111ba20f\">steeper import bills<\/a> this season with wheat prices surging to their highest in years.<\/p>\n<p><strong><a href=\"https:\/\/anchinv.com\/\">Anchorage Investments<\/a><\/strong> has appointed New York-based <strong><a href=\"https:\/\/www.duffandphelps.com\/\">Duff & Phelps<\/a><\/strong> as <strong>financial advisor<\/strong> on their <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b234b47d-4c67-4ac4-8740-29a7de38916f\">USD 2.5 bn petrochemical complex<\/a><\/strong> in the <strong>Suez Canal Economic Zone<\/strong>, according to a <a href=\"https:\/\/ent.news\/2021\/12\/EN-Anchorage-Investments-Financial-Closure-PRL-Final.pdf\">press release (pdf)<\/a>.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>Egyptian e-commerce website builder <strong><a href=\"https:\/\/zvendo.com\/\">zVendo<\/a><\/strong> has launched <strong>zVendo Food<\/strong>, a new service tailored to the F&B sector that allows vendors to create web stores and mobile apps, according to a <a href=\"https:\/\/ent.news\/2021\/12\/food-PR.pdf\">press release (pdf)<\/a>.<\/li>\n<li>Elsewedy Electric subsidiary <strong>Rowad Modern Engineering<\/strong> was <a href=\"https:\/\/ent.news\/2021\/12\/Press-Release-RME-EMAAR-En.pdf\">awarded (pdf)<\/a> a <strong>EGP 996 mn contract<\/strong> to construct the <strong>Mivida Office Park for Emaar Misr<\/strong>, and another <strong>602 mn contract<\/strong> to construct the <strong><a href=\"https:\/\/ent.news\/2021\/12\/Press-Release-RME-New-Giza-english.pdf\">New Giza Hospital<\/a><\/strong><a href=\"https:\/\/ent.news\/2021\/12\/Press-Release-RME-New-Giza-english.pdf\">for New Giza (pdf)<\/a>. <\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Brace yourself for pricier wheat as Russia mulls raising export tariffs on the grain: Russia, the world\u2019s largest wheat exporter, is considering imposing higher export tariffs if wheat prices reach USD 375 \/ ton, with a bigger hike proposed if prices reach USD 400 \/ ton, according to a government proposal that would see Moscow [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,1328,317,199,1527,72,900,270,416,132,563,3104],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-554099","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-anchorage-investments","tag-commodities","tag-e-commerce","tag-emaar-misr","tag-enterpriseam","tag-food-and-beverage","tag-russia","tag-suez-canal-economic-zone","tag-trade","tag-wheat","tag-zvendo","wpautop","entry"],"acf":{"mongo_id":"5dd013dd-9edc-45ef-8356-3bd39e44c03f","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[554080],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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State grain buyer GASC had been allocated some EGP 87 bn in this fiscal\u2026","rel":"","context":"In &quot;FOOD SECURITY&quot;","block_context":{"text":"FOOD SECURITY","link":"https:\/\/enterpriseam.com\/egypt\/category\/food-security\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":557683,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/28\/russia-wheat-export-tariffs-could-put-egypt-in-a-grave-situation\/","url_meta":{"origin":554099,"position":3},"title":"Russia wheat export tariffs could put Egypt in a \u201cgrave situation\u201d","author":"enterpriseam admin","date":"28 September 2021","format":false,"excerpt":"High export tariffs on Russian wheat could put Egypt and other buyers in a \u201cgrave situation,\u201d the managing director of a Black Sea-region agricultural research firm writes for the Financial Times. Introduced by the Russian government earlier this year, the tariffs, alongside heightened fertilizer prices, could see farmers lose 15-30%\u2026","rel":"","context":"In &quot;EGYPT IN THE NEWS&quot;","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555103,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/02\/more-inflation-ahead-as-wheat-prices-continue-to-rise\/","url_meta":{"origin":554099,"position":4},"title":"More inflation ahead as wheat prices continue to rise","author":"enterpriseam admin","date":"2 November 2021","format":false,"excerpt":"Wheat prices rise again in fresh tender: Egypt has seen the price of Russian wheat rise another 1.5% in just a few days as its state grain buyer issued its second international tender in less than a week. The General Authority for Supply Commodities (GASC) yesterday purchased 180k tonnes of\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/284.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546454,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/17\/the-local-wheat-harvest-isnt-costing-as-much-as-we-expected\/","url_meta":{"origin":554099,"position":5},"title":"The local wheat harvest isn\u2019t costing as much as we expected","author":"enterpriseam admin","date":"17 May 2022","format":false,"excerpt":"We\u2019re spending less on local wheat than previously thought: The government has so far paid EGP 8.5 bn for some 1.85 mn tons of local wheat since the start of the harvest season at the beginning of April, state news agency MENA quoted Egyptian Holding Company for Silos and Storage\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/214.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/554099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=554099"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/554099\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/554080"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=554099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=554099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=554099"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=554099"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=554099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}