French wheat exporters face tougher competition from the Black Sea this year as crops in Russia and Ukraine recover from drought, erasing the premium paid for Paris-traded futures over the global benchmark in Chicago.
Creative Group OJSC, a Ukrainian maker of oils and margarine, will boost its 2013 earnings before interest, tax, depreciation and amortization as much as 30 percent on improved output, the head of the company said.
Wheat exports from India, the world’s second-biggest producer, are set to plunge as farmers hoard the crop and a rally in domestic prices turns buyers away to cheaper supplies from Russia and Ukraine. Futures climbed.
Ukraine’s biggest transport companies are selling debt to revamp transport routes and win back cargoes from Russia, which has swiped a chunk of business from its neighbor by investing more in ports and inland links.
Soft wheat and rapeseed yields in the European Union may be smaller than previously expected because of declining crop prospects in the U.K. and some eastern countries, the EU’s Monitoring Agricultural Resources unit said.