Russian President Vladimir Putin and his Senegalese counterpart Macky Sall, head of the African Union, discussed, on Friday, the issue of grain exports.
Kremlin spokesman Dmitry Peskov told reporters that the Russian president will give “a full explanation of his vision for the situation of grain in Ukraine.”
“The president will explain to our African guests and friends the true state of affairs. He will explain once once more what is happening there, who mines the ports, what is needed to export grain, and ensure that no one will close the ports,” he added.
The visit of Macky Sall, who also chairs the African Union, to Russia comes within the framework of the bloc’s efforts, especially to open the way for stocks of grain and fertilizers, the suspension of which affects the countries of the continent in particular.
The Ukrainian crisis contributed to an increase in the prices of cereals and oils that exceeded what they were in 2011 and 2008.
Russia and Ukraine together account for 30% of world wheat exports.
The United Nations fears a “famine”, especially in African countries that used to import more than half of their wheat from Ukraine or Russia.
But as the crisis worsened, there were no longer ships leaving Ukraine, which was also the fourth exporter of corn and was on the verge of becoming the third largest exporter of wheat, as it alone provided 50 percent of the world’s trade in seeds and oil before the outbreak of the crisis.
For its part, Moscow asserts that the suspension of exports from Ukraine is not its fault, but rather the result of Kyiv’s mining of Ukrainian ports.
In contrast, Russian grain exports have been largely banned due to logistical and financial sanctions imposed by the West.
The Kremlin is calling for the removal of mines from Ukrainian ports to avoid the global food crisis.
A statement issued by Macky Sall on Thursday said that the visit to Moscow “falls within the framework of the efforts made by the EU presidency to contribute” to calming the crisis in Ukraine and “opening the way for stocks of grain and fertilizers, which impede their passage to African countries in particular.”
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The Bank of America expects Brent crude oil prices to hit 150.
written by Alexandra Hartman Editor-in-Chief
Bank of America released a report that said Brent crude oil prices may hit $150/barrel. If oil exports from Russia drop dramatically
“Brent crude is currently approaching our target of $120. We believe the plunge in Russian oil exports will push the price of Brent above $150,” the report said.
In addition, the Bank of America also predicts that Brent crude prices average $104.48 a barrel this year and $100 a barrel next year.
Oil prices have risen since Russia’s military invasion of Ukraine on Feb. 24.
‘The baht is the strongest’ in more than 7 months at 32.09 baht per dollar last week.
written by Alexandra Hartman Editor-in-Chief
Ms. Kanchana Chokpaisarnsilp research executive Kasikorn Research Center revealed that the baht closed the market yesterday (Oct. 18) bahthit the highest level in more than 7 months at 32.09 baht per dollar before returning to close the domestic market at 32.16 baht per dollar Close to yesterday’s close at 32.18 baht per dollar.
The frame of baht appreciation decelerated partially at the end of the week. corresponds to the net sell positionThai stocksof foreign investors
As for the movement of the baht next week, it is estimated at 31.80-32.70 baht per dollar.
The important factors that must be monitored include: GDP numbersQ4/21 and the dataexportJanuary of Thailand the direction of foreign capital and the COVID-19 situation
while the important US economic numbers are the Consumer Confidence Index for February. new home sales durable purchase orders Sales contracts for homes pending sales personal income/spending and inflation as measured by the PCE/Core PCE Price Indices for Jan. 4Q21 GDP figures (prelim.) and the number of weekly unemployment claims
In addition, the market is waiting to follow.The situation in Ukraine The determination of the LPR loan interest rate of the People’s Bank of China Including preliminary data of the February PMI of the Eurozone, the UK and the US as well.
New York’s West Texas Intermediate (WTI) crude futures closed higher on Friday (Feb 11) following US officials commented that Russia was close to attacking Ukraine. This might lead to sanctions on Russian oil and gas exports. which will reduce the amount of oil and the price went up
The WTI crude oil contract was delivered in March. It rose $3.22, or 3.6%, to close at $93.10 a barrel. and rose 0.9% this week.
The Brent crude oil contract (BRENT) will be delivered in April. It rose $3.03, or 3.3 percent, at $94.44 a barrel. and rose 1.3% this week.
oil market soar As traders are increasingly concerned regarding the tensions between Russia and Ukraine.
As the uncertainty over the border situation between Russia and Ukraine increases, There are still diplomatic efforts aimed at ending tensions peacefully.
In addition, oil prices have also been supported. After the International Energy Agency (IEA) said the oil market was in a tight position. After warning that OPEC Plus oil production was farther from target levels in January.
Analysts expected Oil prices might soar above $100, with tensions between Russia and Ukraine fueling. and in the near term The change in forecasts regarding the likely Russian invasion of Ukraine may cause the price of oil to fluctuate
“Oil shortages are expected to intensify. Because some OPEC Plus members are limited in production. This will make the oil market more tight,” the IEA said in its monthly report released on Friday.
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