Russian wheat exports to doubled in March

Russia may export 4.2 million tons of wheat in March, which is twice as high as in the same period last year, the Sovecon analytical center said. Wheat deliveries from ports last week rose to 1 million tons from 0.8 million tons a week earlier - this is the highest weekly volume since December 2022. Exports slowed in February amid storms in Novorossiysk, a key export port. Due to bad weather, Sovecon estimates deliveries in February at the level of 3.4 million tons. In January, 3.7 million tons of wheat were exported. “Demand for wheat from exporters will remain high. However, traders will try to lower purchase prices in ports in order to compete with suppliers from other regions,” Sovecon analysts say. Details Rosstat estimates the stocks of wheat in Russian agricultural organizations as of February 1 at 19.8 million tons, which is 78% higher than the long-term average. conclusions This year, Russia is ready to supply 55-60 million tons of grain to the world market. Since the ...