Over the past June period, Russia reduced grain exports by 11%

Published Jun 18, 2024

Tridge summary

In the first 17 days of this month, Russia's grain exports fell by 11% year-on-year to 2.7 million tons, with significant declines in corn and barley exports and a slight 0.8% drop in wheat shipments. Despite this, the annual grain export forecast is slightly up at 68 million tons. Egypt remains the top buyer of Russian wheat, though its imports have decreased by 30%, while Saudi Arabia and Türkiye show varying trends. Africa is becoming a key market with rising imports from countries like Tanzania and Mozambique. The number of exporters and ports involved has decreased, with major shipments through Novorossiysk and Yeisk. Additionally, grain transshipment through Vladivostok nearly tripled, while it decreased significantly through Rostov-on-Don and by road. Grain prices have dropped globally, narrowing the price gap between Russian and European wheat, which is expected to heighten competition.

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

Original content

Over the past 17 days of this month, Russia has reduced supplies of grain crops abroad by 11 percent from the same period last year, or to 2.7 million tons. Interfax reports this with reference to data from the Russian Grain Union. According to the director of the analytical department of the union, Elena Tyurina, the export of corn and barley decreased most significantly - by 63 and 26 percent to 135 and 204 thousand tons. Wheat shipments year on year decreased by only 0.8 percent, amounting to 2 million 380 thousand tons. Since the overall figure is much greater than the average decrease, therefore, a noticeable increase was observed for the rest of the crops in this group. However, based on the data from the main ones, the analyst expects that at the end of the month, total deliveries for the main types of grain will be less than in the last agricultural year (in Russia, grains change every July - ROSNG). If 5.1 million tons were shipped then, now she predicts 4.95. Including, ...

Source: Rosng