Record wheat harvest leads Russia to tap new markets
Moscow is lobbying Saudi Arabia to open its rapidly growing market to Russian wheat, giving it another destination to offload a record harvest and compete with supplies from the European Union.
Russian wheat has largely been barred from entering the kingdom for the past decade due to strict bug-damage rules, but the two nations have begun talks on starting up trade. It’s the latest sign of increased collaboration between the two in global commodities markets -- the nations are leading a group of 24 nations that have cut oil production to lift energy prices.
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