EU countries increased purchases of Russian grain 10 times

Grains, Cereal & Legumes

Russia

Market & Price Trends

Published Feb 16, 2024

Tridge summary

Despite sanctions, the EU has increased its imports of Russian grain due to a decline in local durum wheat yields, with purchases up 22% per month and 10 times per year in 2023. The grain is reaching the EU via the Baltic countries and Belarus, causing concern for Ukrainian farmers as the influx of Russian grain is causing market prices to drop. Ukrainian farmers are demanding a ban on food imports from Russia and Belarus, threatening to protest if their demands are not met. Experts suggest that the issue of Russian grain dominance should be addressed through market mechanisms.

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

While Ukrainian farmers are counting the losses from the war, lost crops, low purchase prices, and complicated logistics, Russia boasts that trade with the EU has significantly revived. According to Eurostat, in 2023, purchases of Russian grain increased by 22% per month and 10 times per year. Latifundist.com decided to find out why Europe is increasing exports from Russia by putting obstacles to Ukrainian grain. From the beginning of the current marketing year to December 1, the aggressor country shipped 2.23 million tons of grains and legumes to the EU, more than twice as much as in the same period last year (968 thousand tons), according to the Russian Grain Union. The largest importers: Latvia is also among the leaders in purchases of Russian grain, although shipments to this country fell to 105 thousand tons from 410 thousand tons a year earlier, as reported by the Russian Interfax. According to Russian analysts, Spain bought the most peas – 571 thousand tons. Italy became ...

Source: UkrAgroConsult