Russia: Grain export rates are declining

Published 2024년 12월 25일

Tridge summary

Russian grain export shipments have decreased by 23.2% in the first 23 days of December compared to the previous year, totaling 2.5 million tons. The decrease is attributed to a drop in wheat, corn, and barley exports, with Egypt, Bangladesh, and Saudi Arabia being the leading importers of Russian wheat. The price of wheat and Russian wheat is strengthening, with the discount compared to European wheat decreasing from $21/t to $6/t. The decline in grain exports is due to bad weather on the Black Sea, Christmas holidays, and the global market situation. In January, there is expected to be insignificant shipment activity, but exporters may increase the pace of shipments of corn and barley due to a zero quota for these crops.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Grain export shipments from December 1 to 23 decreased by 23.2% compared to last year, to 2.5 million tons, according to monitoring by the Russian Grain Union (RGU), cited by Interfax. According to Elena Tyurina, director of the RGU analytical department, there was an increase in shipments in the first half of December, but the last week showed a decrease. In particular, wheat exports decreased by 9.3% (to 2.29 million tons), corn - by 79% (93 thousand tons), barley - by 67% (79 thousand tons). "We can already assume that by the end of December, wheat shipments could amount to 3.1 million tons against 3.6 million tons in December last year. Exports of other crops will also be below last year's figures," Tyurina said. According to her, Egypt is the leader in purchasing Russian wheat, having imported 363 thousand tons, which is 3.2 times more than a year earlier. The country, Tyurina notes, imports wheat for processing into flour, part of which is exported to African countries. In ...

Source: AgroInvestor