Russia resumed grain exports to Turkey

Russian grain exporters have resumed trading with Turkey after a short break due to the deterioration of Russia-Turkey relations.

25 December 2015 14:42

Russia is one of the world's largest wheat exporters, and Turkey was one of the biggest purchasers of Russian wheat until Turkey Air Force had downed a Russian bomber.

Since the start of the conflict, Russian and Turkish traders held back from signing new contracts, for fear that Moscow may suspend grain exports to Turkey, but such measures have not been introduced, and business is back to normal.

- Concerns over a possible supply disruption to the Turkish market that existed in late November - early December have not come true, said Andrei Sizov, a managing director of consulting company "SovEkon."

The Russians have not dared to look away from one of its major customers and the "grocery watch" Rosselkhoznadzor, which oversees the grain export, at one point refused to comment on the matter, according to Reuters.

From July to November Ankara imported 1.7 million tons of Russian wheat, making Turkey the second largest buyer of this product after Egypt in 2015-16 marketing year, which started July 1.

In 2014 Turkey was the largest buyer of Russian wheat, importing 4.1 million tons.