Opening of Turkish wheat market will support exports from Russia, but potential is limited - expert

Published 2025년 3월 21일

Tridge summary

Turkey has eliminated tariffs on wheat imports for flour export production, which is expected to boost Russian exports. However, the potential for Russian deliveries to Turkey is limited as the country begins harvesting its new crop in June and has already stored volumes in customs warehouses. It is anticipated that Turkey will import approximately 1.5 million tons of wheat from Russia from March to June. In the current agricultural season, Turkey is projected to import around 4 million tons, a decrease from the previous season's 8.2 million tons. Russia is expected to contribute 3.8 million tons of this import, a decrease from the previous season's 7 million tons. The Rusagrotrans analytical center has reduced its forecast for Russian wheat exports from 42 million tons to 40.5 million tons for the 2024-2025 agricultural season due to factors such as negative profitability, a strong ruble, and reduced surpluses for export.

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

Original content

Turkey's easing of restrictions on wheat imports will support Russian exports, but the potential for deliveries to the country is limited, Igor Pavensky, head of the agricultural market analysis department at Rusagrotrans, told RIA Novosti. On Wednesday, Reuters reported, citing the Federation of Turkish Millers, that Turkey had allowed tariff-free imports of wheat for the production of flour for export. "Of course, Turkey's long-awaited opening will support exports from Russia, but the potential for deliveries to the country is limited. Turkey will begin harvesting the new crop in June, and, in addition, from the beginning of the season, the volumes already delivered to customs warehouses will be used. We expect that in March-June, imports to this country could amount to about 1.5 million tons, mainly from Russia as the cheapest supplier of milling wheat," Pavensky said. He also noted that in the current agricultural season (June 2024 - July 2025), Turkey will import about 4 ...

Source: Oilworld