Syria makes major wheat deal with Russia after dire local harvest

Dhaka,  Fri,  22 September 2017
Published : 14 Oct 2016, 22:00:10

Syria makes major wheat deal with Russia after dire local harvest

ABU DHABI, Oct 14 (Reuters): Syria's state grain buying agency Hoboob struck a deal to purchase one million tonnes of Russian wheat from political ally Russia, covering the needs of government-controlled areas for a year.

The Damascus government subsidises bread for the areas it controls ensuring the supply of flat loaves that are a staple for Syrian people. Syria often buys wheat from Russia but this was an unusually large amount for a cheap price. The source said it should cover the government's needs for this year until the next local wheat buying season in 2017.

A Syrian government source close to the matter told Reuters Hoboob purchased the wheat at 150 euros ($168) a tonne, on a cost and freight basis, and shipment would be for a year after opening up the letter of credit.

The Russian Agriculture Ministry declined to comment on the purchase but a source at the ministry told Reuters Russia is still considering a shipment of around 100,000 tonnes of wheat to Syria as humanitarian aid, separate from the Hoboob deal.
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