High wheat prices slow down the export of bran from Russia

Published 2021년 4월 26일

Tridge summary

The article discusses the effect of Russia's export duty on wheat prices domestically, noting a slow decrease that is interrupted by periods of stabilization. High prices for high-quality wheat and low demand for finished products have led millers to limit processing volumes. The Federal State Statistics Service reports a 10% decrease in wheat and wheat-rye flour production in the first quarter of 2021 compared to the previous year. Despite this, wheat bran exports have seen a surge, with 80 thousand tons exported in April alone, which is more than the average monthly export volume in the 2020/21 season. However, intense competition from Ukraine is affecting the trade of Russian wheat bran.

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

Original content

Market participants noted the impact of the export duty on the reduction of wheat prices in the domestic market. But the fall in prices is slow, alternating with periods of stabilization. Millers are forced to limit their processing volumes due to high prices for high-quality wheat and moderate demand for finished products. According to the Federal State Statistics Service, the production of wheat and wheat-rye flour in the Russian Federation in January-March 2021. fell by 10% over last year's level. Accordingly, the production of bran decreased. Exports of wheat bran from the Russian Federation in March and April were at a high pace. In April, 80 thousand tons were ...

Source: Agrovesti