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World grain markets dry up
7 Jan 2008
Poor harvests have caused China and Russia to put export duties on cereal crops while Argentina has stopped all wheat exports. From January 1 all exports from China of cereals, rice and soya will attract an export duty of between 5 and 25 per cent, while tariffs for cereals in Russia have increased from $37 to $177 per tonne, effectively stopping all exports. The only major exporters left in the market are the US, Canada and Kazakhstan.
The Australian, 7/1/2008
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