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India’s Feb Russian oil imports edged up from Jan- trade

India’s import of Russian oil edged up in February over January, reversing declines seen in the past two months, data from industry sources showed on Wednesday, as refiners received some parcels of Russian light sweet Sokol grade. The world’s third biggest oil importer and consumer, India has been gorging on Russian oil since the West imposed sanctions on Moscow for its invasion on Ukraine in February 2022. The South Asian nation emerged as the top buyer of Russian oil in 2023 after some entities and nations retreated from purchases in ...

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China’s soybean imports from Brazil jump 211% in first two months

China’s soybean imports from Brazil surged 211%in the first two months of 2024 compared with a year ago, data showed on Tuesday, as strong harvest and competitive pricing in the South American producer outpaced the United States’ market share. The world’s top buyer of soybeans, China brought in 6.96million metric tons of the oilseed from Brazil, up from 2.24million tons in the same period last year. Imports from the U.S. fell to 4.96million tons from 9.71million tons in 2023. Total imports in the Jan-Feb period recorded a five-year low of ...

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Brazil extends dominance over US as China’s top corn, soy supplier

Brazil extended its dominance over the United States as the largest corn supplier to China in the first two months of the year, and also raised its soybean exports, Chinese customs data showed on Wednesday. The surge in Brazilian supplies to China, the world’s largest agricultural importer, comes just over a year after Beijing approved Brazilian corn exports in an attempt to diversify its suppliers and reduce dependence on U.S goods. China imported 4.1 million metric tons of corn from Brazil of a total 6.19 million tons that arrived during ...

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India: As domestic LNG output rises, imports will decline to 45% by FY26

With increasing local production, the import dependency of natural gas in general and LNG in particular, is likely to come down to 45 per cent by FY26, says a report. According to a Care Ratings analysis, with the rise in domestic natural gas production, the dependency on imported LNG (liquefied natural gas), which stood at 53 per cent in FY21, has gradually declined over the past three years and is expected to remain at around 45 per cent by FY26, the agency said. Higher demand for natural gas is also ...

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Algeria buys 100,000 to 150,000 T durum wheat in tender, traders say

Algeria’s state grains agency OAIC is believed to have purchased durum wheat in an international tender which closed on Tuesday, European traders said. The precise volume bought was unclear but initial estimates were of a relatively small purchase of between 100,000 to 150,000 metric tons. The tender had sought a nominal 50,000 tons. Prices were not available. Shipment was sought in two periods: April 1-15 and April 16-30. Algeria was apparently awaiting the new durum crop in Mexico to arrive which importers hope could depress prices in the current tight ...

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Ukraine grain exports at 3.2 mln T so far in March

Ukraine’s grain exports so far in March have totalled 3.2 million metric tons, down from 3.5 million in the same period of last year, agriculture ministry data showed on Wednesday. Ukraine’s grain exports in the 2023/24 July-June marketing season have fallen to around 32.9 million tons from 35.1 million a year earlier, the data showed. Exports so far this month have included 13 million tons of wheat, 17.6 million tons of corn and 1.89 million tons of barley. Ukraine has traditionally exported around 95% of its grain via its deep-water ...

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EU agrees new limits on Ukraine farm product imports

The European Union reached a provisional agreement on Wednesday to grant Ukrainian food producers tariff-free access to its markets until June 2025, albeit with new limits on imports of grains. The European Commission proposed in January to suspend duties and quotas on Ukrainian farm produce for a further year, with an “emergency brake” for poultry, eggs and sugar leading to tariffs if imports exceed the average levels of 2022 and 2023. However, after months of protests from farmers over EU environmental rules and cheap imports, EU lawmakers pushed to extend ...

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Russia says it will adjust grain export duties but not cancel them

Russian Agriculture Minister Dmitry Patrushev said on Wednesday that Russia will adjustgrain export duties but will not cancel them. His comments followed criticism of the duties from farmers, against a background of falling world prices for grain. Patrushev said duties had been adjusted at the start of the last season, and would be again for the new season, but did not mention specific figures. “We are trying to lower the financial burden on producers of grain. Based on this, we will adjust the duty. But we will not cancel it,” ...

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Israeli gas exports to Egypt from Leviathan field jumped in 2023 -NewMed

Natural gas exports from Israel’s offshore Leviathan field to Egypt jumped by 28% in 2023, and production at the site is due increase in late 2025, NewMed Energy NWMDp.TA said on Tuesday. The company also reported a drop in fourth quarter profit. NewMed, the largest stakeholder in the huge Leviathan field, said overall sales from the field for the year fell to 11 billion cubic meters (bcm) from 11.4 bcm in 2022, adding the drop was due to new competition in the sector. Exports to Egypt jumped to 6.3 bcm ...

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US should not “flip-flop” on gas export policy- Hess CEO

The United States should not flip-flop on its gas export policy, Hess CEO John Hess said on Tuesday. U.S. President Joe Biden’s administration has hit pause on permits for new liquefied natural gas (LNG) export plants to ensure projects do not undermine U.S. targets to cut greenhouse gas emissions. “Consumers have to rely on the United States for the important role we play as an exporter of oil and gas, and we can’t flip-flop our policy,” Hess said. “You set a strategy in place and then you back that up.” ...

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China Jan-Feb gasoline exports down 31% on yr; diesel down 73%

China’s exports of gasoline fell nearly a third in the first two months of 2024 versus year-earlier levels, customs data showed on Monday, as domestic transport demand surged over the holiday travel period. Diesel exports, which account for the biggest share of refinery output, fell 73.1% in January and February to 1.22 million metric tons, General Administration of Customs data showed. Domestic diesel demand had remained weak for much of 2023, as China’s manufacturing and construction sectors struggled against concurrent slowdowns in the export and property sectors. Analysts from the ...

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EU to impose tariffs on Russian grain imports, sources say

The EU is preparing to impose tariffs on grain imports from Russia and Belarus to placate farmers and some member states, officials familiar with the plans said on Tuesday. Traders said Russian and Belarusian shipments to the bloc were low, certainly relative to those from Ukraine, and that the imposition of tariffs was largely symbolic. Russian research company SovEcon said it would have little impact on grain trade and prices, given only 2% of Russian shipments went to Europe, with the exception of sunflower meal, of which the European Union ...

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Ukraine oilseed exports fall during March 1-15, traders say

Ukraine’s oilseed exports fell during March 1-15 from the same period of February, Ukrainian grain traders union UGA said on Tuesday. UGA also said shipments of soybeans fell to 145,000 metric tons in the first half of March from 152,000 tons a month earlier. Rapeseed exports fell to 57,000 tons from 191,000 tons, UGA said on Telegram messaging app. The union gave no explanation for the lower exports. UGA said combined exports of grain and oilseeds had dropped to 2.912 million tons in the period, from 3.101 million tons over ...

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Indonesia to pause corn imports as bumper local harvest season starts

Indonesia will pause corn imports as domestic output has started to rise with the beginning of what authorities expect to be a bumper local harvest season which is already helping prices to stabilise, officials said on Monday. The output of corn kernels with 14% water content is set to be 5.34 million metric tons in the January-April harvest season, up 10.28% on year, the statistics bureau estimated this month. Food procurement firm Bulog had been allocated an import quota of 500,000 metric tons of corn for animal feed this year, ...

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Ukraine exports 2.8 mln T grain so far in March

Ukraine’s grain exports so far in March have totalled 2.8 million metric tons, down from 3.5 million tons exported in March 1-20 last year, agriculture ministry data showed on Monday. Ukraine’s grain exports in the 2023/24 July-June marketing season have fallen to around 32.4 million tons from 35.8 million a year earlier, the ministry data showed. Exports so far this month have included 12.9 million tons of wheat, 17.4 million tons of corn and 1.87 million tons of barley. Ukraine has traditionally exported around 95% of its grain via its ...

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