Trade was the major theme in January's Monthly News Report on Grains , released earlier this week. Changes in several countries' export and import policies and volumes were reported.
In South Africa, the Independent Online reports that the amount of maize the country will need to import may be less than originally estimated; this comes after the Crop Estimates Committee issued a production forecast of 7.4 million tons, up from the 5.5 million previously estimated. However, due to lingering serious drought conditions, South Africa still faces significant food security concerns.
AgWeek also reports that Russia may be considering cutting wheat export taxes and imposing export taxes on barley and corn. Russia currently imposes a floating tax on wheat exports, set at 50 percent of the customs price minus 6,500
roubles (US $82) per ton, but not less than 10 roubles per ton. A meeting between the Ministry of Agriculture and the Deputy Prime Minister was scheduled for January 29, and a decision regarding the potential tax changes is expected to be announced soon.
Argentina is set to take on a leading role in the global agricultural market, according to AgProfessional . The country's new president, Mauricio Macri, who took office in December, has cut most crop and beef export taxes and has allowed the Argentine currency to depreciate, giving the country's shippers an advantage on world markets. Argentina's producers have responded quickly, exporting record levels of agricultural goods and creating new competition for Australia in the Middle Eastern wheat market.
The FAO Monthly News Report on Grains provides a collection of news articles on issues or factors considered critical in shaping the regional/global grains economy, as well as links to reports, statistics, and upcoming events.