Iraq discounts heavily to muscle out cheaper Russian oil in India

[Skull and Bones]

Iraq boosted its share in June to 26% of total Indian crude imports from 24% in May​

India is the last big market left for foreign crude oil suppliers where the door will probably be shut last. And that explains why West Asian crude suppliers led by Iraq are trying to muscle in to retain market share that they have been losing to Russia over the past few months.

Iraq discounts heavily to muscle out cheaper Russian oil in India

Iraq boosted its share in June to 26% of total Indian crude imports from 24% in May

www.business-standard.com

 

[kopotov]

Pakistan refuses Russia’s wheat offer to save USD 1.4 million amid food scarcity

Islamabad (Pakistan), August 7 (ANI): Amid the food and debt crisis in Pakistan, the country is considering refusing Russia’s offer to supply 120,000 metric tons of wheat at a price of USD 399.50 to save USD 1.4 million.

According to The Tribune Express, Pakistan demanded Russia to further reduce the rate by 2.4 per cent due to the falling global commodity prices.

However, Russia made the final offer to supply the wheat at Rs 399.50 per metric ton under the government-to-government deal.

“The ECC decided that the Russian side may be offered the price of USD 390 and the offer may be cancelled if they (Russians) do not accept the offer,” it added.

Some members of the ECC were against the decision to reject the Russian offer because of the relatively thin position of the wheat stocks.

Pakistan has, however, lost the deal as the validity period to accept the offer was Friday 6 pm, Moscow time.

The Pakistan government proposed USD 390 per ton, which is USD 9.5 or 2.4 per cent less than the final offer given by Russia, which in total will save USD 1.4 million of Pakistan at the total offered quantity of 120,000 metric tons.

 

[Abu Shaleh Rumi]

Pakistan refuses Russia’s wheat offer to save USD 1.4 million amid food scarcity

Islamabad (Pakistan), August 7 (ANI): Amid the food and debt crisis in Pakistan, the country is considering refusing Russia’s offer to supply 120,000 metric tons of wheat at a price of USD 399.50 to save USD 1.4 million.

According to The Tribune Express, Pakistan demanded Russia to further reduce the rate by 2.4 per cent due to the falling global commodity prices.

However, Russia made the final offer to supply the wheat at Rs 399.50 per metric ton under the government-to-government deal.

“The ECC decided that the Russian side may be offered the price of USD 390 and the offer may be cancelled if they (Russians) do not accept the offer,” it added.

Some members of the ECC were against the decision to reject the Russian offer because of the relatively thin position of the wheat stocks.

Pakistan has, however, lost the deal as the validity period to accept the offer was Friday 6 pm, Moscow time.

The Pakistan government proposed USD 390 per ton, which is USD 9.5 or 2.4 per cent less than the final offer given by Russia, which in total will save USD 1.4 million of Pakistan at the total offered quantity of 120,000 metric tons.

Pakistan with its landmass have to import staple food is ridiculous...

 

[Skull and Bones]

Pakistan with its landmass have to import staple food is ridiculous...

A significant part of Pakistan is not fertile.