Russia: Wheat exports up 27% in November

Published 2024년 11월 21일

Tridge summary

From November 1 to November 20, Russia experienced a significant increase in wheat exports, reaching nearly 3.2 million tons, a 27% rise from the previous year, as reported by the Russian Grain Union (RGU). This period also saw a decrease in corn and barley exports, resulting in a total grain export of approximately 3.4 million tons, a 3.8% increase from the year before. Egypt, Morocco, Nigeria, and Algeria were among the major importers of Russian wheat, with notable increases in shipments to several African and Asian countries. Despite falling prices for European and American wheat, Russian wheat maintained its price stability, though the price discount compared to European wheat has decreased to $10 per ton. This reduction in discount is not expected to negatively impact the growth in shipments, as demand for Russian wheat remains strong despite potential quota reductions and shifting market preferences.

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Original content

From November 1 to 20, Russia exported almost 3.2 million tons of wheat, which is 27% more than in the same period a year earlier, Interfax writes, citing monitoring by the Russian Grain Union (RGU). At the same time, barley exports amounted to 177 thousand tons against 383 thousand tons a year earlier, corn - 97 thousand tons against 443 thousand tons. In general, exports of the main types of grain reached 3.4 million tons, which is 3.8% more than a year ago. According to Elena Tyurina, director of the analytical department of the union, shipments to Egypt in the first 20 days of November increased by 3.3 times - from 166 thousand tons a year ago to 549 thousand tons, thanks to previously won tenders for deliveries. Exports to Morocco increased from 119 thousand tons to 222 thousand tons: the country plans to increase wheat imports and the main focus will be on purchases in Russia. "African countries, which previously purchased wheat mainly from EU countries, see that supplies of ...

Source: AgroInvestor