Russia's export of wheat in January will be a record

Wheat

Russia

Published Jan 31, 2023

Tridge summary

In January 2023, Russia will supply 4 million tons of wheat to foreign markets (including the EAEU countries), of which 3.3 million tons were shipped by January 27, the Union of Grain Exporters said, citing data from Rusagrotrans. In February, we will export about the same amount of wheat - at the moment there are applications only for deep-sea ports in the amount of 3.3 million tons. Plus, the dispatch of part of the ships will be postponed from January. In January, record shipment rates are maintained, which is quite understandable against the backdrop of a huge harvest in the country, says Eduard Zernin, chairman of the board of the Union of Grain Exporters. The top five imports of Russian wheat remain the same: Turkey holds the first place, followed by Egypt, Iran, Saudi Arabia, Algeria. Now, Pakistan has predictably approached this top five, having already purchased more than 1 million tons of Russian wheat.

Original content

"The dynamics of shipments in early January, of course, was affected by favorable weather conditions, which did not allow exporters to ship the planned volume in December. In addition, some exporters accelerated the pace of shipments in anticipation of the introduction of grain export quotas (from February 15 in the amount of 25 million tons of grain - Ed.) We see this trend every year since the introduction of quotas," Zernin explained. Earlier, experts estimated the total export in the 2022/23 ...

Source: RG