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Russia boosts coal exports as Western sanctions yet to bite

Much of the focus on sanctions on Russia’s commodity exports is on crude oil and natural gas, but coal is perhaps the best example of the challenges facing those seeking to punish Moscow for its invasion of Ukraine. Russia is the world’s fourth-largest coal exporter behind Australia, Indonesia and South Africa, and has the ability to supply both the Atlantic and Pacific basins. Europe, the main buyer of Russian coal, has proposed a ban on imports but it has yet to be fully implemented, while Japan also plans to end ...

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Jordan buys 120,000 tonnes wheat in tender –traders

Jordan’s state grains buyer purchased an estimated 120,000 tonnes of hard milling wheat to be sourced from optional origins in a tender which closed on Tuesday, traders said. It was bought from trading house Ameropa, all at an estimated $427.50 a tonne c&f for shipment in the first half of October and first half of November, they said. Traders said two other trading houses participated in the tender with their offers in dollars a tonne c&f: CHS offered $439.97 and Cargill $443.75 a tonne. Source: Reuters (Reporting by Michael Hogan)

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Bangladesh draws one participant in 50,000 tonne wheat tender -traders

Only one trading house is believed to be participating in the tender on Tuesday from Bangladesh’s state grains buyer to purchase and import 50,000 tonnes of wheat, European traders said. Trading house Agrocorp was reported to be the only participant. No purchase has been reported, traders said. Agrocorp was believed to have offered an estimated $448.38 per tonne c&f liner out with supplies sourced optionally from Bulgaria, Romania, the United States, Canada, Australia or India. Liner out terms include some ship unloading costs for the seller. Traders said reasons for ...

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Kremlin: no decision taken on switching Russian LNG sales to roubles

The Kremlin said on Tuesday that no decision had been made on whether to switch sales of Russian liquefied natural gas (LNG) to roubles. Russia’s Gazprom GAZP.MM could propose expanding its roubles-for-gas scheme for pipeline gas to include LNG, the Interfax news agency quoted a senior manager as saying on Monday. “Currently no decisions have been taken in this regard and there are not any prepared orders,” Kremlin spokesperson Dmitry Peskov told his daily conference call with reporters. Kirill Polous, a deputy department head at Gazprom, said on Monday that ...

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Ukraine’s June wheat, sunoil exports up versus May

Ukraine increased its wheat exports to 138,000 tonnes in June, the last month of the 2021/22 season, from 43,500 tonnes in May 2022 and compared with 662,000 tonnes in June, 2021, the agriculture ministry said on Tuesday. Ukraine exported up to 6 million tonnes of grain per month before Russia invaded in late February. Ukrainian agricultural exports fell to around 2 million tonnes after its Black Sea ports were blocked due to hostilities. The ministry said in the statement Ukraine had exported 1 million tonnes of corn and 26,000 tonnes ...

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U.S. supplies more gas to Europe than Russia for the first time

For the first time, the U.S. provided more liquefied natural gas (LNG) to Europe than Russia sends by pipelines, according to the latest data released by the International Energy Agency (IEA). Russia ships about 150 billion cubic meters of gas to Europe via pipelines every year, and another 14 billion to 18 billion cubic meters of LNG, accounting for over 40 percent of total imported natural gas of Europe. In 2021, Russia met more than a third of the European Union’s (EU) gas demand, said the IEA. However, in response ...

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BTC ship 106.9m barrel of crude oil from marine terminal in 1H2022

Some 106.9 million barrels of crude oil were shipped from the marine terminal of the Baku-Tbilisi-Ceyhan (BTC) pipeline in the Ceyhan region in the first six months of 2022, Azernews reports, citing Anadolu. “The crude oil that arrives at the Heydar Aliyev terminal is sent from there by tankers to the world market,” the statement reads. From the marine terminal, from its commissioning in 2006 until the end of last year, 4,947 tankers delivered 3.7 billion barrels of oil to the world market. In the first half of this year, ...

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S. Korea’s MFG tenders for up to 140,000 tonnes corn -traders

South Korea’s Major Feedmill Group (MFG) has issued an international tender to purchase up to 140,000 tonnes of animal feed corn, European traders said on Tuesday. The deadline for submission of price offers in the tender is believed to be Wednesday, July 6. The corn is sought in two consignments of between 55,000 to 70,000 tonnes with the seller free to decide the volume offered in this range, they said. The first consignment is sought for arrival in South Korea around Oct. 27. Shipment was sought between Sept. 3 and ...

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India: No coal import curbs for now

The government has decided to put its import substitution plan for coal on the back-burner till domestic production of the fuel touches a 1-billion-tonne mark. The move is in view of the surge in demand for the fuel amid fast-increasing electricity consumption in an economy struggling to come out of a slump. India’s coal production stood at 777 million tonne (MT) in FY22, up 8.6% on year. State-run Coal India made up for 80% of the domestic output even in the last financial year. A series of steps taken by ...

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Pakistan ponders Russian crude imports, seeks input from refiners

The Pakistani government has asked its refineries to provide feedback on importing attractively-priced Russian crude in an effort to soften the blow from a ballooning import bill, joining a list of Asian countries which are keeping their options open to buy from the non-OPEC supplier. The government has written a letter to Pak Arab Refinery, National Refinery, Pakistan Refinery, and Cnergyico, formerly Byco Refinery, to submit their detailed reports on whether the refiners can import crude oil from Russia, according to a government document seen by S&P Global Commodity Insights. ...

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Egypt’s GASC seeks wheat in private talks -traders

Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC), is in private negotiations with trading houses about buying wheat without issuing an international tender, traders said on Monday. Offers for an undisclosed volume of wheat will be accepted from July 4. Price offers must remain valid for 24 hours, traders said. Shipment is sought in four periods: Sept. 1-15, Sept. 16-30, Oct. 1-15 and Oct. 16-31, traders said. Offers are being sought for Romanian, Bulgarian, Russian and French wheat. GASC typically purchases wheat through international tenders, but Egypt’s ...

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Australia’s commodity exports in sweet spot of Russia sanctions, China hopes

Russia’s invasion of Ukraine and hopes of significant economic stimulus in China are combining to boost Australia’s commodity exports to record levels, at least for now. Australia’s exports of natural resources are forecast at a record A$405 billion ($275.4 billion) in the 2021-22 financial year, which ended on June 30, and will likely rise to a new high of A$419 billion in 2022-23. However, the latest Resources and Energy Quarterly from the government forecaster also predicts a fairly steep drop in commodity earnings thereafter to A$338 billion in 2023-24, as ...

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Russia reduces sunflower oil export tax sharply to support exports

Sanctions-hit Russia has reduced its sunflower oil export tax sharply after changing the formula it uses for calculating it to support shipments while its rouble currency hovers near multi-year highs, the agriculture ministry said on Saturday. The sunflower oil export tax is set at 8,408.7 roubles ($163.3 at the current rate) per tonne for July, the ministry said in a note. The tax for July was previously set in U.S. dollars, at $560.1 per tonne. The sharp reduction happened after the Russian government set the base price for the tax ...

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Gazprom says exports of gas to Europe via Ukraine at 42.1 mcm

Russian gas producer Gazprom said its supply of gas to Europe through Ukraine via the Sudzha entry point was seen at 42.1 million cubic meters (mcm) on Monday, unchanged from Sunday. An application to supply gas via the Sokhranovka entry point had again been rejected by Ukraine, Gazprom said. Source: Reuters (Editing by Louise Heavens)

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Pakistan seeks Qatar gas on deferred payment

Amid severe energy crunch and unprecedentedly expensive fuel imports, Pakistan is seeking more gas imports on deferred payments from Qatar, which is irritated by roadblocks to its infrastructure investment plans, particularly in import terminals. Authorities in Islamabad are engaging with Qatar at different levels to ramp up Liquefied Natural Gas (LNG) supplies to Pakistan to make up for shortage of four to five cargoes (about 400-500 million cubic feet of gas per day) every month. At almost every engagement, the other side wants to hear an update on the removal ...

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