Kazakhstan can replace Russia in durum wheat supplies to Europe

Published 2024년 6월 3일

Tridge summary

The European Union has approved import duties on grains and oilseeds from Russia and Belarus, effective July 1, 2024. While these duties are largely symbolic for Russia, they present an opportunity for Kazakhstan to increase its durum wheat exports to Europe. Kazakhstan, which exported 743.5 thousand tons of durum wheat in 2023, primarily to Italy, has the potential for further growth in this sector. Although the country aims to diversify its crops, it faces challenges in selling alternatives like sunflowers and legumes. The EU's new duties on Russian durum wheat create a competitive opportunity for Kazakhstan, known for its high-quality durum wheat, to fill the gap left by Russia in the European market.

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

Original content

The European Union, as part of its policy of economic pressure, approved import duties on the supply of grains and oilseeds from Russia and Belarus. They will come into force on July 1, 2024. For soft wheat it is 95 euros per ton, for rye and barley 93 euros, for durum 148 euros, and so on - the list is long. At the same time, for the Russian Federation itself, the sanctions are purely symbolic, since it supplied only about 1 million tons of grain crops to Europe in 2023. But for Kazakhstan, the restrictions imposed on Russians open up opportunities for increasing durum wheat to Europe. After all, of the 1 million tons of grain that the Russian Federation shipped to the EU in 2023, approximately half of the volume was durum. Kazakhatan itself exported 743.5 thousand tons of durum wheat worth $250 million in 2023. The main buyer was Italy, where 60% of the export volume (446 thousand tons) worth $150 million went. Turkey (98 thousand tons), Tunisia (74 thousand tons) and Latvia (62 ...

Source: Zol