Grain exports from the Russian Federation for 11 months of the agricultural year will amount to a record 62.8 million tons

Published 2024년 5월 28일

Tridge summary

The Russian Grain Union has forecasted a record export of 62.8 million tons of grain for the first 11 months of the current agricultural year, marking an 8% increase from the previous season. However, there has been a downturn in grain shipments since early May, with a 20.4% decrease by May 27 compared to the same period last year. Despite this, the number of countries receiving wheat has increased, with significant reductions in shipments to traditional buyers like Egypt and Turkey, and first-time shipments to Kuwait, Morocco, and Algeria. The price of wheat and other grains has also seen significant increases due to active exporter purchases and expectations of reduced gross harvests.

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

Original content

Moscow. May 28. INTERFAX.RU - Over the 11 months of the current agricultural year (from July 1, 2023 to May 31, 2024), the Russian Federation exports a record 62.8 million tons of grain, which is 8% more than during the same period last season. This forecast was made by the Russian Grain Union. “Thus, with an export potential for the entire 2023/2024 agricultural year (ends June 30 - IF) of 67 million tons, the volume of grain shipments in June could amount to 4.2 million tons, including about 3.9 million tons of wheat. Its export volume the potential for the agricultural year is estimated at 55 million tons,” Elena Tyurina, director of the union’s analytical department, told Interfax. At the same time, the downward trend in grain shipments, which began in early May, continues throughout the month, she noted. By May 27, 4.65 million tons of grain were shipped for export, which is 20.4% less than from May 1 to May 27 last year. Including shipments of wheat fell by 18.8%, to 3 ...

Source: Interfax