Reading Time: 5 minutes Moscow/Dubai/London | Reuters — In the murky story of how a cache of highly explosive ammonium nitrate ended up on the Beirut waterfront, one thing is clear — no one has ever publicly come forward to claim it. There are many unanswered questions surrounding last week’s huge, deadly blast in the Lebanese capital, but ownership […] Read more
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Who owned the chemicals that blew up Beirut? No one will say
The fertilizer's Georgian producer has since been dissolved; the ship that brought it to Lebanon sank in 2018
Iraq recaptures some grain silos seized by Islamic State
Reading Time: 2 minutes London | Reuters — Iraq has re-taken control of some grain silos previously seized by Islamic State, but most of the grain held cannot be used as militants aim to destroy sites when retreating, a senior grain official said Tuesday. Islamic State, the breakaway al Qaeda group, which declared an Islamic caliphate across parts of […] Read more
Grain exporters to feel price pain as shipping rates to rise
Reading Time: 3 minutes London | Reuters — An improved outlook for global bulk shipping rates spells bad news for grain exporters as they go into the latest sales campaign, with increased freight costs squeezing profit margins and adding to price competition in leading markets. U.S wheat exporters look to be the hardest hit as ship owners prepare to […] Read more
Payment problems reported disrupting Iran food deals
Reading Time: 3 minutes London/Ankara | Reuters — Payment problems are disrupting commercial food cargoes to Iran, with hundreds of thousands of tonnes of grain and sugar stuck in transit, as Western banking sanctions complicate deals and trade financiers scale back exposure. Iran is not barred from buying food or other “humanitarian” goods under sanctions imposed over Tehran’s pursuit […] Read more
Syria tender for food calls for payment from Iran
Reading Time: 3 minutes Syria tendered to import food on Friday using a credit line from Iran’s export bank, in what could be a test of last month’s landmark deal to ease Western financial sanctions on Tehran. Sanctions also imposed on Syrian President Bashar al-Assad’s government do not cover food but those on banking, asset freezes and the country’s […] Read more
Food suppliers look to win Iran contracts after nuclear deal
Reading Time: 3 minutes After years of difficulty caused by economic sanctions, suppliers are hoping a nuclear deal will make it easier to win lucrative contracts to sell wheat, sugar and other food to Iran. Iran was never barred from buying food, but EU and U.S. financial measures have made trade more difficult for the past two years by […] Read more
Iran seeks wheat in new import spree
Reading Time: 3 minutes After months out of international grain markets and payment hurdles, Iran is now seeking at least 300,000 tonnes of milling wheat to help satisfy major import needs due to a poor domestic harvest, traders said Monday. Iran has to import 7.5 million tonnes of wheat this year, President Hassan Rouhani said in September, in what […] Read more
Wheat starts to reach Syria as frozen funds unlocked
Reading Time: 4 minutes Deliveries of wheat are starting to reach Syria’s ports as its bank accounts abroad are gradually being freed from sanctions, with grain traders detecting a greater willingness from European governments to allow deals to go ahead on humanitarian grounds. As civil war grinds on, Syria is facing its worst wheat harvest in three decades. President […] Read more
Syrian buyer picks up first wheat cargo in weeks
Reading Time: 2 minutes A Syrian buyer has concluded a deal for 23,000 tonnes of milling wheat, the first commercial cargo to be booked in weeks as civil conflict and a financing crunch have held up deals, trade sources said on Friday. Syria faces its worst wheat harvest in nearly three decades as war rages, increasing pressure on the […] Read more
Iran ramps up wheat buying to secure post-election supplies
Reading Time: 3 minutes Iran has ramped up its campaign to import wheat, buying more than 800,000 tonnes in two weeks in what some traders said was a drive to ensure adequate supplies for a possibly tense period after Friday’s election. This is the first presidential poll since a disputed 2009 contest led to months of unrest in the […] Read more
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