Russia: Domestic grain exports to Algeria will reach 3 million tons in the 2023/2024 season

Wheat

Grains, Cereal & Legumes

Russia

Market & Price Trends

Published Feb 13, 2024

Tridge summary

Algeria has become the fifth largest importer of Russian wheat, with Russia now outpacing the EU in wheat supplies to the country. This follows the lifting of a five-year ban in 2021, leading to an increase in Russian wheat supplies to Algeria, with 1.6 million tons shipped from July 2023 to January 2024. The export potential for the 2023/2024 season is predicted to be 3 million tons. Russia has also started exporting barley to Algeria, leading in this market, and has the potential to enter the durum market due to its lower prices compared to Canada or the USA.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Algeria ranks fifth among the top importing countries of Russian wheat, and for the first time Russia has surpassed the EU in terms of wheat supplies in this direction. Experts believe that in the current season the supply potential is 3 million tons, and in the future the supply volume will increase. As Igor Pavensky, head of the agricultural markets analysis department at Rusagrotrans, told the Federal State Budgetary Institution Agroexport, the volume of Russian wheat supplies to Algeria has been growing since 2021, when a five-year ban on supplies in this direction was lifted, according to a message seen by sfera.fm . Thus, in the 2021/2022 season, 0.5 million tons of Russian wheat were imported, in the 2022/2023 season, imports have already amounted to 2.1 million tons, and the first seven months of the current season, i.e. from July 2023 to January 2024, 1.6 million tons of wheat were sent to Algeria - this is 20% more than during the same period of the last agricultural ...

Source: Zol