News about International trade
During the past week, May cane sugar futures (#11) on the New York exchange rose 7% to $15.86/lb or $350/t (+8.8% for the month). This is the maximum for the last seven months. White sugar (#5) at the exchange in London added 8.7% to $462.5/t (+13% for the month). In general, according to the estimates of experts of analytical agencies, in March world sugar prices increased by 9-13%. Before that, in February, they fell to a five-year low.
European Commission President Ursula von der Leyen on Tuesday concluded a free trade agreement with Australian Prime Minister Anthony Albaniz. The agreement opens access to Australia’s most important raw materials, including aluminum, lithium and manganese. Australia also reduces duties on most EU goods and agricultural exports.
As a result of face-to-face inspections carried out by inspectors of the National Agency for Food Safety (ANSA) at the border points of the Republic of Moldova, a consignment of 10.5 tons of poor-quality imported dried fruit mixture (apples, apricots, plums, cherries) was detected.
Specifying the country of origin of goods may increase sales of local producers up to 15% in the fresh produce segment. Such a draft was discussed on Wednesday, March 25, in the parliamentary commission for economy, budget and finance.
For the period of sharp fluctuations in fuel prices, tariffs for inter-district and district regular passenger road transportation will be adjusted to reflect the increase in diesel fuel prices.
Latvia has approved a bill to reduce excise duty on diesel fuel by 15%. This will reduce the price by 8.6 cents per liter, including VAT. In addition, excise duty will be reduced on diesel fuel for farmers, which will reduce its price by 5.9 cents per liter.
Moldova will cover the costs of restoring the damaged section of the Isaccea-Vulcanesti line running through Ukraine, while the technical work will be carried out by the Ukrainian side.
U.S. business activity growth slowed to an eleven-month low in March as companies grappled with increased uncertainty and rising living costs associated with the nearly month-long war in Iran.
Russia suspended ammonium nitrate exports for a month. Exports will resume on April 21. The ministry explained this by the priority of providing fertilizers to Russian farmers during spring field work. The exception will be deliveries under intergovernmental agreements.
The March report of the International Grains Council (IGC) forecasts a 1.3% decline in global corn production in the 2026/27 marketing season to 1.303 billion tons. At the same time, global consumption of this grain will increase and is likely to exceed production. The final stocks of corn grain will decrease significantly.
The Ministry of Energy has warned Moldovan residents about possible power outages on Wednesday, March 25, from 17:00 to 22:00. This was announced by Carolina Novak, State Secretary of the Ministry. These measures are part of the actions within the framework of the emergency situation in the energy sector, which is to be considered today by the Parliament.
Kazakhstan may become the first Central Asian country to join the board of the International Civil Aviation Organization (ICAO). The Senate ratified amendments to the Chicago Convention, which provides for the expansion of the organization’s council.
Problems with the quality of Argentine sunflower imported to the Black Sea countries this spring are changing the balance on the market of the region in a paradoxical way. On the one hand, there is nominally more raw material. On the other hand, the actual supply of sunflower suitable for processing into food and fodder has not increased in the regional market. Obviously, such a contradiction between expectation and reality in the very near future will be reflected in the regional sunflower prices.
Trade in wheat of the new harvest has revived on the Ukrainian market. Some farmers and agricultural holdings have started to enter into forward contracts more actively, using current grain prices to fix future sales. At the same time, forward market prices are already higher than spot market prices, which is uncommon.
The advancement of the process of launching the Chisinau Stock Exchange (BVC) was the subject of discussion at a regular meeting of the Economic Council under Prime Minister on March 24.
UPDATED. The Moldovan government imposes an emergency situation in the energy sector for 60 days. For this purpose, extraordinary sessions of the Government and Parliament will be held on Tuesday, March 24.
The Moldovan transport sector has been hit hardest by rising fuel prices. The authorities are ready to find the necessary solutions to mitigate the impact on the industry if the conflict in the Middle East continues.
Japan will release oil from the state reserve on March 26, such a decision was made at a meeting of line ministers headed by Prime Minister Takaichi on stabilizing oil supplies in connection with the crisis in the Middle East, Kyodo news agency reported.
Resolv Energy intends to obtain financing from the European Bank for Reconstruction and Development (EBRD) for the construction and operation of a solar panel park with a capacity of more than 1,200 MW in Arad. If the idea is realized, the park will become the largest such facility in Europe. The preliminary investment volume is estimated at 1 billion euros.
World trade in wheat flour will fall to a four-year low in the 2025/26 marketing year. This forecast was issued by the International Grains Council (IGC). According to the organization’s estimates, trade volumes will be about 16 million tons (in terms of wheat), which is 3% less than last year. Sales are falling for the second season in a row.
