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Weekly Roundup... 13 October, 2020

Published on Oct 13 2020 10:15 AM

Weekly Roundup... 13 October, 2020

Russian wheat export prices rose last week due to high demand from exporters and limited supply from farmers concerned about dry weather in several regions which signals risks for the 2021 crop, analysts said on Monday. Russian wheat with 12.5% protein loading from Black Sea ports and for supply in October was at $245 a tonne free on board (FOB) at the end of last week, up $8 from the previous week, agriculture consultancy IKAR said in a note. Sovecon, another Moscow consultancy, said wheat rose by $4 to $239 per tonne, while barley rose by $6 to $203 a tonne. Current dry weather may reduce Russia's winter wheat sowing area by 10%-15%, mainly in the central part of the country, Sovecon said last week. Traders in Russia's southern regions report some delays with securing phyto certificates needed for export, Sovecon said, adding that it was probably caused by the lack of state inspectors who issue these certificates amid the COVID-19.

The inaugural Checkout National Grocery Retail Awards will take place virtually in December. In 2020, Ireland’s premiere awards for fresh food retailing, the Checkout Best in Fresh Awards, is joining forces with the leading awards for suppliers to the industry, the National Retail Supplier Awards, to create the National Grocery Retail Awards. Through amalgamating these awards, we aim to create the largest and most prestigious awards for the industry in Ireland. The In 2020, Ireland’s premiere awards for fresh food retailing, the Checkout Best in Fresh Awards, is joining forces with the leading awards for suppliers to the industry, the National Retail Supplier Awards, to create the National Grocery Retail Awards. The judging process for entries will continue as normal. Email: Colette O' Brien at [email protected] or Telephone: + 353 1 236 5823 or Mobile: 087 956 1781, Deadline: 18 October 2020. Enter here.

The European Union's new trade chief has told the US to withdraw tariffs on more than $7 billion (€5.9 billion) of EU products or face additional duties on exports to Europe, as he urged a settlement to the dispute over Airbus SE and Boeing Co, the Financial Times reported on Sunday. Repairing the transatlantic relationship would be EU's top priority, and the U.S. should withdraw its Airbus-related tariffs as a confidence-building measure, the EU's new trade chief Valdis Dombrovskis told the paper. "Of course, if the US is not withdrawing their tariffs we have no choice but to then introduce our tariffs," he was quoted as saying.

Shares in Polish e-commerce group Allegro leapt more than 50% on their stock market debut on Monday, immediately making it the biggest listed company in Warsaw with a market value of about $17.6 billion, report Reuters. Poland hopes the initial public offering (IPO), its biggest in years, will boost the Warsaw stock exchange, which has struggled to attract new listings and seen a drop in turnover. "In these difficult times when we fight with the pandemic and recession, we all need good news. Allegro's debut is good news for all of us," deputy prime minister, Jaroslaw Gowin, told a news conference. At 09:05 GMT, Allegro shares were trading at 65.43 zlotys, up 52.2% from their IPO price of 43 zlotys, which was itself at the upper end of the guidance range. Allegro, founded more than 20 years ago as a home-grown rival to eBay, is the most recognised e-commerce brand in Poland, with its website attracting 20 million visitors a month.

 

© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.

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