The International Grains Council (IGC) is an intergovernmental organisation concerned with grains trade. It administers the Grains Trade Convention, 1995. The IGC Secretariat, based in London since 1949, also services the Food Aid Committee, established under the Food Aid Convention 1999. Many of IGC's information services are made available to subscribers.
August 2010 Grain Market Report: Global grain prices recorded sizeable gains in the past month but wheat values, having risen most steeply of all since June, retreated somewhat after peaking in early August when Russia confirmed that its crop shortfall would result in an export ban.
Significantly reduced wheat and barley crop prospects, especially in the CIS and the EU, cut the 2010/11 global grains crop forecast by 8m. tons from July, to 1,745m. The sharp fall in Black Sea region exports will see a marked shift in trade flows, with US exports in particular placed much higher than before.
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