Kazakhstan may replace Russia in durum supplies to the EU

Published 2024년 6월 3일

Tridge summary

The European Union will impose import duties on grain and oilseeds from Russia and Belarus starting July 1, 2024, with significant tariffs on various grains. While these sanctions are largely symbolic for Russia, they open up opportunities for Kazakhstan to boost its durum wheat exports to Europe, as Russia was a major supplier in 2023. Kazakhstan has already increased its durum wheat exports and is looking to diversify its crop offerings, despite facing challenges with sales and export duties on other crops like sunflower seeds. The high quality of Kazakhstan's durum wheat, attributed to favorable growing conditions, positions it competitively against other major exporters such as Canada and Turkey.

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

Original content

As part of its policy of economic pressure, the European Union has approved import duties on supplies of grain 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 Russia itself the sanctions on wheat are purely symbolic, since in 2023 it delivered to Europe only about 1 million tons of grain crops. But for Kazakhstan, the restrictions imposed on the Russians open up opportunities to increase the supply of durum wheat to Europe. After all, about half of the 1 million tons of grain that Russia shipped to the EU in 2023 was durum. Kazahatan 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 (446,000 tons) went for $150 million. Other major buyers were Turkey (98,000 tons), Tunisia (74,000 tons) and Latvia (62,000 tons). For ...

Source: UkrAgroConsult