Russia exported more than a third of its annual wheat export potential in July-September

In the initial months of the current agricultural year, Russia has already exported over a third of its annual wheat potential, with Egypt being the primary buyer. This is despite export restrictions by Pakistan, Turkey, and Kazakhstan. Due to issues in Europe and competitive pricing, Russia has seen increased presence in other African countries and a slight increase in Asian markets. However, global barley reserves are expected to hit a 40-year low, and demand is expected to rise from countries like Iran, Saudi Arabia, Libya. Corn exports have also exceeded 25% of the possible volume, mainly to Iran and Turkey, with Turkey reducing import duty on corn. Despite setting a record last season, it is unlikely that pea exports will repeat this year due to protective duties introduced by the EU and decreased demand from China and India. Russia aims to diversify its pea supplies by strengthening its presence in Bangladesh and Pakistan. Last year, Russia set a record by supplying over 76 million tons of grain and leguminous crops abroad.