In August, Russia reduced grain export shipments by 12.3%

Published 2024년 9월 4일

Tridge summary

In August, Russian grain exports fell by 12.3% compared to the same month last year, with wheat exports down 6.7%. Despite this, the last week of August saw a significant increase in shipments. Corn exports rose by 12%, while barley continued to decline. Since the season began in July 2024, total grain exports are down 8.1%. Wheat was shipped to 39 countries, with Egypt being the largest buyer, though its purchases decreased by 38.5%. The number of companies and ports involved in wheat shipping also decreased, with Novorossiysk leading in transshipment. Meanwhile, French and American wheat prices rose by 4.5% and 3.3% respectively, while Russian wheat prices remained stable at $212 per ton but have decreased by 10.2% since the season began. The discount on Russian wheat compared to European wheat increased to $22 per ton, boosting late August shipments. Domestically, wheat prices fell due to the start of winter sowing.

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

Original content

In August of this year, according to preliminary data, the Russian Federation shipped 6.754 million tons of basic grain crops for export, which is 12.3% less than in the same month last year, according to the monitoring of the Russian Grain Union. As Elena Tyurina, director of the analytical department of the union, told Interfax, wheat exports amounted to 6.06 million tons (6.7% less). "The results of August turned out to be higher than expected, since in the last week of the month, shipments, which had been lagging behind before, intensified and began to exceed the figures for the same month last year," Tyurina said. "In particular, shipments of basic grain crops increased by 19%, to 1.561 million tons, and wheat - by almost 36%, to 1.461 million tons." Corn was exported 12% more than last year (to 31.3 thousand tons). At the same time, barley shipments maintained a downward trend and amounted to 69 thousand tons against 208 thousand tons in the last week of August 2023. ...

Source: Oilworld