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Impact of Russia's Export Ban on Wheat: World market, Russia Domestic Market
Russia being a leading exporter of wheat in the world is at crossroads to balance the fact that local consumption of the crop is basic as well as the international market’s high demand. The governments then decided that the local demand be taken care of first then the international demand later. However, this action has consequences both locally and abroad through the prices and the quantity delivered. This is in the short and long term duration thereafter.
|language || ||english
|wordcount || ||3484 (cca 9.5 pages)
|contextual quality || ||N/A
|language level || ||N/A
|price || ||free
|sources || ||10
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Preview of the essay: Impact of Russia's Export Ban on Wheat: World market, Russia Domestic Market
Impact of Russia's Export Ban on Wheat: World market, Russia Domestic Market Background The government of Russia took a measure of banning the export of wheat and other related foodstuffs in early August the year 2010. This was due to many reasons that were facing the country. Among the most direct reasons include extended drought period, wild fires and recorded high temperatures that affected the crop. The prime minister ordered this to take effect from the middle of the month to the end of the year (VOANews.com, 2010). Bhatia (2010) asserts that the plan was a measure to curb the prices of wheat domestically as well as avoid supply problems at home for the local consumer. According to media reports, Russia slashed 20 percent of its forecast on wheat harvest at the end of the season due to the continuity of the problem. Russia being a leading exporter of wheat in the world is at crossroads to balance the fact that local consumption of the crop ...
... term solution to cover up for the long term effect of this scenario. Much as its temporary its not guaranteed that no future wild fires are never to happen
In conclusion the Russian wheat ban has been the highlight of the world food security due to the overall impact on the globe. Also the issue is important in the global food prices and stability. It is important that world food producers should consider policy of such important commodities to prevent greater negative impact.
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