Russian grain exports fell by 10% in October

Published 2024년 10월 21일

Tridge summary

Between October 1 and 20, Russia's grain exports fell by 10% compared to the same period in 2023, with wheat, barley, and corn shipments all declining due to lower harvests. Despite this, monthly exports are consistent with or above the five-year average. The variety of exported crops has decreased significantly, with wheat making up 89.4% of shipments. The number of exporting companies and the range of delivery destinations have also narrowed. Egypt emerged as the largest buyer, increasing its imports by 30%, while exports to Turkey dropped significantly.

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

Original content

From October 1 to 20, Russia shipped 3.93 million tons of major grain crops for export, which is 10% less than in the same period of 2023, according to the monitoring of the Russian Grain Union. As Elena Tyurina, director of the union's analytical department, told Interfax, wheat shipments fell by 5%, to 3,512 thousand tons. "But this is already a smaller gap than in September, when shipments fell by 16%," she said. Barley exports fell by 14%, to 312 thousand tons, and corn exports fell threefold, to 102 thousand tons. "In principle, this dynamic is expected, since the export potential in the current season (July 2024-June 2025 - IF) is lower due to a reduction in gross harvests," Tyurina said. - At the same time, monthly deliveries correspond to the average figures for the past five years, even slightly more. In September, wheat exports from Russia amounted to 5.3 million tons, the average monthly figure for the past five years is 5 million tons, in August - 6 million and 5.4 ...

Source: Milknews