In the past grain season, the Russian Federation significantly increased supplies to certain countries in Asia and Africa

Published 2024년 7월 23일

Tridge summary

Russia has emerged as a leading grain supplier, breaking export records for the second year in a row with 60 million tons in the 2022/23 season, expecting to export over 68 million tons in the 2023/24 season. The country ranks second in global grain exports and leads in wheat exports, with a 25%-30% share. Traditional trading partners like Egypt, Turkey, Iran, and Saudi Arabia, as well as Asia and Africa, have benefited from these exports. The export market is influenced by global supply and demand, with prices expected to remain stable unless crisis situations arise. The EU's duty on grain imports from Russia and Belarus may lead to a redirection of supplies to African and Asian markets.

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

Original content

Also, Russia retained its position as an important grain supplier for its traditional trading partners: Egypt, Turkey, Iran, Saudi Arabia For the second year in a row, grain exports from the Russian Federation are breaking records. In the 2022/23 season it reached 60 million tons, and according to the results of 2023/24 MY, according to the Russian Grain Union, more than 68 million tons of grain were exported. Russia ranks second in the world in the export of grain of all types (the United States is in first place), and the Russian Federation has been leading in wheat exports for several years now: according to various estimates, our country’s share in the world export of this crop varies from 25% to 30 %. In the past season, the Russian Federation maintained its position as an important supplier of grain for its traditional trading partners: Egypt, Turkey, Iran, Saudi Arabia, and also significantly increased supplies to certain Asian countries, including Bangladesh, Vietnam, ...

Source: Specagro