Experts predict wheat exports from Russia in September at 5.1-5.2 million tons

Published 2024년 9월 2일

Tridge summary

Russian wheat exports in September may drop to 5.1-5.2 million tons, down from 5.5 million tons in the same period last year, according to Rusagrotrans analytical center. The decrease is due to a drop in deliveries to Kazakhstan and a slight increase in shipments through deep-water ports. Egypt is the largest importer, followed by Turkey and Saudi Arabia. Export prices for Russian wheat remained steady at $216 per ton (FOB), while prices for French, German, and American wheat increased. The price increase is attributed to the deteriorating quality of French wheat and reports of China's intention to reduce grain imports due to a bountiful domestic harvest and falling prices.

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Original content

Wheat exports from Russia in September, taking into account deliveries to the EAEU countries, may amount to 5.1-5.2 million tons, compared to 5.5 million tons in September 2023, the Rusagrotrans analytical center told Interfax. As analysts noted, the forecast for September is at the level of August of this year, which is estimated at 5.2 million tons. Moreover, the August estimate was increased from 4.95 million tons amid higher shipment volumes in deep-water ports in the south and despite the cessation of deliveries to Kazakhstan due to the import ban in this direction, introduced in August. In August 2023, wheat shipments to foreign markets were at the level of 5.4 million tons. The main importer, according to preliminary results for the month, is Egypt, where 0.86 million tons of Russian wheat were shipped. In second place is Turkey (0.5 million tons), where, taking into account the import ban, wheat is imported for further re-export to the Middle East. In third place is Saudi ...

Source: Zol