Agricultural traders had a bad start to the year in 2009, reporting profit declines, with margins halved in some cases, with causes including the lower prices operated by rivals of countries such as Russia and Ukraine and also the above-the-average harvests in North Africa, which led to shrinking foreign demand. Unlike producers, which strengthen their turnover in the second and third quarters, grain traders are counting to a great extent, some as much as 90%, on first quarter results.
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