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South Africa buys wheat

21 Dec 2011

According to Bloomberg, The Moscow Times reports that South Africa is importing wheat from Russia for the first time in at least a decade. This happens as the price of grain from Russia - the world's third-biggest wheat exporter - undercuts Argentina, the biggest source of South African imports for the last four years.

In the marketing year that began 1 October, South Africa has imported 118,437 tons of wheat from Russia, the first shipments since at least the 2002-03 season, according to the South African Grain Information Service. "Russia is the cheapest in the world in terms of pricing," said Jannie de Villiers, chief executive of Grain SA, which represents most of the country's grain farmers, Bloomberg reports.

Previously, Business Live reported that weather worries caused concerns for wheat supplies in South America, the Ukraine, as well as in the US Plains, where dry conditions are prompting concerns about the hard red winter wheat crop.

Read the full article on www.themoscowtimes.com.
Read the full article on www.bloomberg.com.
Read the full article on www.businesslive.co.za.