Over the two decades of January, Russia has reduced grain exports by almost a quarter

Grains, Cereal & Legumes

Russia

Market & Price Trends

Published Jan 25, 2024

Tridge summary

Russia has seen a significant decrease in grain exports from January 1 to January 21, with a 24.5% reduction compared to the same period last year, according to the Russian Grain Union. This includes a 32% drop in corn shipments and a 29% decrease in wheat exports, while barley supplies have increased. The most significant reduction in shipments has been to Turkey, Saudi Arabia, Yemen, and Pakistan, although exports to Bangladesh and Kenya have risen. The decrease is attributed to technical issues rather than a lack of demand.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

From January 1 to January 21, Russia reduced grain supplies abroad by 24.5 percent from the same period last year, or to 2.6 million tons. Interfax reports this with reference to data from the Russian Grain Union (RGU). Corn shipments fell most noticeably – by 32 percent to 265 thousand tons. Oddly enough, for the first time in a long time, the volume of wheat exports also seriously decreased – by 29 percent, to 2.1 million tons. Meanwhile, supplies of barley abroad, on the contrary, increased sharply – up to 203 thousand tons, or 2.3 times year on year. The reduction in supplies of the first two grain crops was most likely due to technical reasons than to refusals from importers, since they are in great demand on the world market. According to the head of the organization’s analytical department, Elena Tyurina, of specific crops and countries, shipments have decreased the most to Turkey. In particular, 57 percent less wheat was supplied there (187,500 tons). At the same time, let ...

Source: Rosng