Russia reduced grain export shipments by a quarter in September

Published 2024년 10월 1일

Tridge summary

In September 2024, Russia's grain exports saw a 25% decrease compared to the previous year, totaling 5.76 million tons, with a continued decline in exports throughout the season. The export of wheat, the main crop, fell by 16% to 5.286 million tons, while barley and corn exports also saw significant drops. The geography of these exports also shrank, with the number of types of grain and leguminous crops exported reducing from 29 to eight. Egypt remained the largest buyer, planning to purchase up to 12 million tons this season, primarily from Russia. However, exports to several countries, including Pakistan, Jordan, Malaysia, and some Latin American countries, have ceased due to more profitable American wheat. The price of Russian wheat, while remaining competitive, experienced an increase of 2.8% to $223 per ton. Domestically, wheat prices saw a slight increase of 0.75% last week, reaching 13,275 rubles per ton, which is 8.4% lower than the start of the season. Overall, Russia has exported just over 18 million tons of grain in the first three months of the season, a 11.4% decrease from the previous year.

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

Original content

In September 2024, Russia shipped 5.76 million tons of major grain crops for export, which is a quarter less than in September 2023, according to the monitoring of the Russian Grain Union. As Elena Tyurina, director of the union's analytical department, told Interfax, the downward trend noted at the beginning of the current season (since July 2024) continues. "Wheat shipments decreased by 16%, to 5,286 thousand tons, a drop of more than 1 million tons. Barley was shipped in the amount of 340 thousand tons against 1,104 thousand tons a year earlier, corn - 133 thousand tons against 285.4 thousand tons, respectively," she said. "Moreover, the number of exported grain and leguminous crops has sharply decreased - to eight from 29 types." In addition, the trend of narrowing the geography of shipments is "quite pronounced," the expert noted. In September, wheat was shipped to 33 countries, a year ago - to 52. The largest buyer was Egypt, where 1 million 335 thousand tons were sent in ...

Source: Zol