From June 1 to June 7, the Russian Federation increased shipments of grain for export by almost a third

Published 2023년 6월 9일

Tridge summary

In the first week of June 2023, Russia exported 630.1 thousand tons of grain, a 30% increase from the same period in 2022, with 98.5% of this volume being wheat. The main importers were Egypt and Turkey, with significant increases in shipments to Indonesia, Mozambique, Ghana, and other countries. Despite the increase in wheat exports, corn exports decreased and barley was not exported at all. The reduction in offshore transshipment may be due to weather conditions. The price of Russian wheat also decreased due to a reduction in duty, making it more competitive in the market. It is projected that wheat exports in June could reach 4-4.3 million tons.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

From June 1 to June 7, the Russian Federation shipped 630.1 thousand tons of grain for export, which is 30% more than in the first week of June 2022 (486 thousand tons). This is stated in the monitoring of the Russian Grain Union. As Elena Tyurina, director of the analytical department of the union, told Interfax, 98.5% of this volume, or 621 thousand tons, fell on wheat. This is 1.6 times more than a year earlier. "Shipments of corn decreased to almost 10,000 tons from 107,000 tons in early June last year, barley was not exported at all," she said, noting that the main demand of the world market falls on wheat. In June, it was shipped to 9 countries. The main volume fell on Egypt - 137.9 thousand tons, which is 6% more than a year ago. "Shipments to Turkey after the next extension of the grain deal decreased by 57.6% - to 82,000 tons from 194,000 tons at the beginning of June last year," she said. As Tyurina emphasized, the main increase in shipments over this period was provided ...
Source: Zol

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.