Traditionally, the international wheat market has been considered as one of the best examples of a market with perfect competition. Accordingly, the law of one price would hold and all players would behave as price takers without any influence on the market price. However, the results from...

The aim of this study is to conduct a comprehensive analysis of Russian grain production, to determine country’s production potential and its possibility to remain one of the major grain producers on the world market. On the one hand we estimate the technical efficiency during the period of...

Over the past two decades, the Black Sea region has exhibited significantly growing wheat production and exports. In 2017/18, Russia ultimately became the world’s largest wheat exporter, a position that was held by the USA for decades. Mostly serving destination markets in the Middle East and...