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Russia's Surging Economy

With the firm belief that, especially in Russia, past is prologue, the first and most important economic trend of 2007 was that nation's continued political and economic stability. This has made possible, and will continue to enable, reliable forecasts of economic trends, and has attracted a great deal of foreign investment in Russia.

Such an ongoing process has also caused Russian entrepreneurs to maintain and increase their domestic investments, rather than invest abroad, as they did before. Moreover, it has resulted in job creation and stimulated economic growth, which is now approaching 8%.

12 January 2008 : 1

Nizhniy Novgorod to witness enterprise for bioethanol production

An enterprises for bioethanol production — ecologically friendly, high-antiknock fuel (raw materials for which renewed natural resources: grain crops, potato, sugar beet, and also straw and even bushes) could become perspective for development of Nizhniy Novgorod's agriculture and economy.

10 January 2008

Russian Federation: Wheat Export Tariff Raised to 40 Percent

The Russian export tariff on wheat and meslin will be raised to 40% ad valorem but not less than 105 Euros per metric ton, a prohibitive level, effective January 28, 2008 to April 30, 2008. This will shut off wheat exports. Barley exports have already been effectively cut off by a previously imposed 30% ad valorem export tariff.

8 January 2008

Bulgarian Sugar Refinery Zaharni Zavodi Sees Alcohol Output up 57% in 2008

Bulgaria's largest sugar producer Zaharni Zavodi plans to raise its alcohol output by 57% to 11 million litres this year, it said on Monday.

7 January 2008 : 2

Cereals soar as exporters hoard their harvests

Russia reported a near five-fold increase on cereals export duties for the next three months from E22 ($37) to E105 ($177) per tonne, a move that effectively removes Moscow from the international market.

7 January 2008

Russian Federation Grain and Feed

Grain production estimate for Russia is raised by 550,000 metric tons to 80.95 million metric tons (mmt) due to increased production estimate for non-reported crops, especially rye. The wheat production estimate is 48.2 mmt, barley — 16.5. mmt, and corn — 3.9 mmt. Grain exports for June-December have reached 11.7 — 11.8 mmt, and the MY grain export forecast has been raised to 13.3 mmt, including 12.0 mmt of wheat and wheat flour, 1.05 mmt of barley, and 0.25 mmt of corn and rye. An export ban or prohibitive export tariff on wheat is expected to be imposed from the end of January through March 2008.

2 January 2008 : 2

Latest developments from the EU.

The European Union (EU) is refusing to give up on Russia and its neighbours as stable energy partners for the future, despite the largely inconclusive summit between member states and Moscow last month (October) in Mafra, Portugal, writes Keith Nuthall. It failed to make progress on the demands from the European Commission (EC) for reciprocal liberalisation in Russian energy markets, should the EU allow Russian companies — notably Gazprom — a free hand in member states' gas sectors. However, the two sides agreed a new 'early-warning mechanism' funnelling improved information between Brussels and Moscow on looming potential energy supply and demand problems.

31 December 2007 : 1

China Removes Export Rebate on Grains, Soy Beans and Flour Products 2007

In an effort to slow down rising retail food prices, the Chinese government announced the removal of the export rebate on grains, soy beans and flour products. This measure will discourage exports in order to stabilize domestic grain supplies and will ideally help curb further price hikes in retail food prices. The removal list, effective from December 20, 2007, covers 84 products with HS codes in the 100110 to 120810 range.

25 December 2007 : 1

Russia's First Biobutanol Plant to Start Work by September 2008 on the Base of Tulun Hydrolytic Plant

Russia's first production of biobutanol (second generation biofuel) is to be launched by September 2008 on the base of Tulun Hydrolytic Plant, as stipulated by the MOU between the Irkutsk region's administration and the non-profit organization 'Fuel and Energy Union'.

25 December 2007 : 1

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