Russia is gaining a foothold in new markets as a reliable grain supplier
Russia
Published Jun 1, 2023
Tridge summary
Russia, despite the sanctions imposed last year, continues to fulfill its obligations as a reliable supplier of grain, thereby gaining a foothold in new markets, Russian wheat has already ceased to be traded at a discount to European wheat, Elena Tyurina, director of the analytics department of the Russian Grain Union (RGU), told RIA Novosti.
Original content
Russia, despite the sanctions imposed last year, continues to fulfill its obligations as a reliable supplier of grain, thanks to this, gaining a foothold in new markets, Russian wheat has already ceased to be traded at a discount to European wheat, Elena Tyurina, director of the analytics department of the Russian Grain Union (RGU), told RIA Novosti. "We have to export, based on the quota (for grain exports of 25.5 million tons - ed.), about 3 million tons of wheat. Exports this season (from July 1, 2022 to June 30, 2023 - ed.) may amount to about 61-61.5 million tons of grain, including 52 million tons of wheat," Tyurina believes, drawing attention to very active shipments in the spring, the highest in six years. For example, according to the results of May, the Russian Federation supplied 4.9 million tons of wheat to foreign markets, in April - 5 million, in March - 5.2 million tons: according to Tyurina, active demand comes from both regular buyers and those countries where ...
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