Wheat Rivalry Heats Up as Ukraine Starts Sales to Saudi Arabia
- Continental Farmers to send 60,000 tons after winning tender
- Saudi Arabia is a top market for European Union wheat exports
A worker looks at the hold of a cargo ship filled with wheat grain for export at Nikolaev port in Nikolaev, Ukraine.
Photographer: Vincent Mundy/Bloomberg
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Ukraine joined Russia in starting wheat sales to Saudi Arabia, giving European Union exporters another rival in one of their top markets.
Continental Farmers Group will this month send Ukraine’s first cargo of high quality wheat to the kingdom since 2008, after winning a tender to supply 60,000 tons, the company said. That follows Saudi Arabia’s decision last year to relax bug-damage rules, which opened the way for Black Sea grain to start competing with EU shipments, which have dominated sales to the nation.