South Africa is importing wheat from Russia for the first time in at least a decade as the price of grain from the world's third-biggest wheat exporter undercuts Argentina, the biggest source of South African imports for four of the last seven years.
In the marketing year that began Oct. 1, South Africa has imported 118,437 tons of wheat from Russia, the first shipments since at least the 2002-03 season, the earliest data available, according to the South African Grain Information Service.
"Russia is the cheapest in the world in terms of pricing," said Jannie de Villiers, chief executive of Grain SA, which represents most of the country's grain farmers.
(Bloomberg)
