72% of wheat imports into the EU come from Ukraine

Published Oct 28, 2024

Tridge summary

EU wheat exports have seen a significant decrease of 31% in the first half of the season, with the majority of imports sourced from Ukraine. Wheat prices in Paris have experienced a decline due to weak EU exports, rich harvests in the US, and high exports from Russia. The European Commission has indicated that EU common wheat exports amounted to 7.0 million tonnes from July 1 to October 20, a decrease from 10.2 million tonnes the previous year. Meanwhile, corn imports have increased by 7%, with the majority coming from Ukraine, and barley imports have decreased by 40%, primarily from Ukraine and the UK.

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

Original content

In short: • Exports of wheat from the EU fell sharply by 31% • 72% of wheat imports into the EU come from Ukraine Wheat prices in Paris fell to a 4-week low on Friday, erasing the month's uptrend. According to experts, part of the reasons for this are weak exports from the EU and high imports from Ukraine. Among the other factors putting pressure on European prices are the rich harvests in the US and the high rate of exports from Russia. In the European futures market, wheat prices for the December contract continued to decline on Friday, falling by 4 euros to 217.50 euros per tonne. According to Bloomberg, EU countries are currently discussing higher tariffs on imports of agricultural and food products and fertilizers from Russia. However, in the case of grain (unlike fertilizers), there are currently no significant imports from Russia into the EU. According to the European Commission, EU exports of common wheat totaled 7.0 million tonnes from July 1 to October 20, compared ...

Source: Agri