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Traders in Asia consider force majeure on Russia wheat

SINGAPORE, Aug 6 (Reuters) - Trading companies that have sold Russian wheat to millers in Asia are considering declaring force majeure on supply contracts following Moscow’s curbs on grain exports, traders said on Friday.

“If the contract says Russian wheat, it is straight away force majeure,” said one trader with an international trading company in Singapore. “We haven’t heard but it will happen, even my company will do it.”

It was only a matter of time before companies announced force majeure, said another trader with a global trading company, which sells Australian and Black Sea grain into Asia.

“I think it’s too early, by the end of the day you will see something. There is a lot of Russian wheat contracted for this region,” he said, adding that the contracts could involve volumes of up to 1 million tonnes.

Russian Prime Minister Vladimir Putin issued an order banning grain and flour exports from Aug. 15 to Dec. 31, with a spokesman saying it would apply to contracts that had been already signed. [ID:nLDE6741M9] [ID:nLDE67413A] (Reporting by Naveen Thukral; Editing by Clarence Fernandez)