Russia may set a new record for flour exports this season

Russia

Market & Price Trends

Published Feb 22, 2024

Tridge summary

Russia is set to surpass its previous record for flour exports in the 2023-2024 season, having already shipped over 560 thousand tons between August 2023 and January 2024, according to Dmitry Rylko, General Director of the Institute for Agricultural Market Studies (IKAR). The main markets for Russian flour are Afghanistan, China, and Iraq. The success of wheat flour exports is attributed to high duties on wheat. However, there has been a decrease in bran exports this season, with figures dropping to almost 430 thousand tons.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Interfax - Russia this season (for flour - August 2023 - July 2024) can break last year's record for flour exports, predicts Dmitry Rylko, General Director of the Institute for Agricultural Market Studies (IKAR). “In the 2022/2023 agricultural season, the Russian Federation shipped approximately 830 thousand tons of flour. This season we are setting a new record, because now - from August 2023 to January 2024 inclusive - more than 560 thousand tons have already been shipped,” Rylko said on international conference "Where is the margin 2024" on Friday in Moscow. At the same time, he noted that traditional neighboring competitors - Kazakhstan and Ukraine - are reducing exports. Rylko clarified that Afghanistan, China and Iraq are important markets for Russian flour. Thus, according to preliminary estimates, more than 160 thousand tons of flour were exported to Afghanistan this season, and about 110 thousand tons to China. Buyers also include Turkmenistan, Georgia, North Korea, ...

Source: Zol