Russia increased grain export shipments to 5.3 million tons in January

Wheat

Grains, Cereal & Legumes

Russia

Market & Price Trends

Published Feb 7, 2024

Tridge summary

In January 2023, Russia saw an increase in grain exports to 5.3 million tons, up from 4.5 million tons the previous year, according to the Russian Grain Union. Wheat made up the majority of these exports, totaling 4 million tons. However, grain exports saw a significant decrease of 48% in the first five days of February compared to the previous year. The main buyers of Russian wheat during this period were Egypt, Mexico, Tanzania, Cuba, and Turkey. Additionally, a notable price change occurred at the end of January, with a specific value reaching $127 per ton.

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

In January of this year. Russia shipped 5.3 million tons of grain for export compared to 4.5 million tons in January last year, according to the monitoring of the Russian Grain Union. As Elena Tyurina, director of the union's analytical department, told Interfax, wheat exports amounted to 4 million tons, which is 200 thousand tons more than in January last year. According to its data, from the beginning of the season (from July 1, 2023) to February 1 of this year, 40.2 million tons of grains were shipped, including 33.3 million tons of wheat. “Taking into account the fact that the export potential for the entire agricultural year (July 2023 - June 2024) is estimated at 65 million tons of all types of grains, including 53 million tons of wheat, it turns out that 24.8 million remain to be exported by the end of the season tons of grain," she said, recalling that from February 15, a grain export quota of 24 million tons comes into effect. At the same time, the expert did not exclude ...

Source: Zol