Increase in the forecast of Russian wheat exports in the 2022/2023 season

Wheat

Russia

Published Feb 17, 2023

Tridge summary

Wheat export prospects rose 0.1 million tonnes to 44.2 million tonnes. Sovecon expects January-February wheat shipments to record highs due to the weaker rouble and generally favorable conditions for exporters with high Russian inventories and high demand. According to Sovecon, in July-January 2022/2023 Russia exported 26.4 million tons of wheat, and in February-June deliveries may amount to 17.8 million tons. Export Growth Forecast SovEcon expects January-February wheat shipments to record highs due to the weaker rouble and generally favorable conditions for exporters with high domestic inventories and current high demand. According to experts, the expected strong growth of Russian exports in the first half of 2023 will put significant pressure on prices on the global wheat market.

Original content

Wheat export prospects rose 0.1 million tonnes to 44.2 million tonnes. Sovecon expects January-February wheat shipments to record highs due to the weaker rouble and generally favorable conditions for exporters with high Russian inventories and strong demand. According to Sovecon, in July-January 2022/2023 Russia exported 26.4 million tons of wheat, and in February-June deliveries may amount to 17.8 million tons. Export growth forecast SovEcon expects January-February wheat shipments to record highs due to the weaker rouble and generally favorable conditions for exporters with high domestic inventories and current high demand. According to experts, the expected strong growth of Russian exports in the first half of 2023 will put significant pressure on prices on the global wheat market. At the same time, weather conditions and infrastructural constraints, as well as competition from Australia, may limit the export of Russian wheat. Australia boosted wheat exports by 50% in December ...

Source: Farmer.pl