In March, the Russian Federation reduced wheat export shipments by 15.7% to 4.5 million tons

Published 2024년 4월 1일

Tridge summary

In March, Russia's grain exports, particularly wheat, saw a decline with 5.7 million tons shipped, marking a 14.6% decrease from the previous year. Wheat exports fell by 15.7% to 4.517 million tons, while barley exports nearly doubled and corn exports dropped significantly. Since July 1, 2023, Russia has exported 51.4 million tons of grains. The decrease in wheat exports was linked to the suspension of shipments by RIF Trade House. Despite this, Russia managed to ship wheat to 28 countries, with notable increases in shipments to several countries and a return to the Sri Lankan market. Meanwhile, wheat prices have decreased, with Russian wheat now priced at a $10 discount compared to European wheat, potentially boosting its purchase volumes. The selling prices for wheat producers have also seen a reduction.

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

Original content

Moscow. April 1st. INTERFAX.RU - The Russian Federation exported 5.7 million tons of main types of grain in March, which is 14.6% less than in March last year. This is stated in the monitoring of the Russian Grain Union. The rate of decline in wheat exports is higher. As Elena Tyurina, director of the union's analytical department, told Interfax, wheat shipments decreased by 15.7% and amounted to 4 million 517 thousand tons. At the same time, barley exports increased almost 1.9 times to 612 thousand tons, corn exports decreased by 42% to 574 thousand tons. Since the beginning of the season (from July 1, 2023), 51.4 million tons of main types of grains have been shipped for export, including 42.2 million tons of wheat. “Thus, with an export potential of the main types of grain of 67 million tons, 15.6 million tons can be shipped in the remaining three months of the season, wheat - with an export potential of 55 million tons - 12.8 million tons,” Tyurina clarified. - Monthly ...

Source: Interfax