Russia tripled wheat exports from June 1 to June 27

Wheat

Russia

Published Jun 28, 2023

Tridge summary

Russian wheat exports have tripled from June 1 to June 27 compared to the same period last year, reaching 3.76 million tons. This increase can be attributed to expectations of a smaller harvest this year and potential price increases. Russian exports of grain in general, and wheat in particular, are expected to reach record levels for the entire agricultural year ending in June 2023, according to the Russian Grain Union.

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Original content

From June 1 to June 27, the Russian Federation shipped 3.76 million tons of wheat for export, which is three times more than in the same period last year. According to the results of the agricultural year, the export of grain in general and wheat, in particular, will again become a record, according to the monitoring of the Russian Grain Union. Elena Tyurina, director of the union's analytical department, told Interfax that the increase in shipments can be explained by the expectation of a reduction in the harvest this year and a possible increase in prices in the face of reduced supply. "Our main importers are interested in bringing as much grain as possible at today's low price," she said. In addition, a significant increase in shipments is also associated with the low base of last year, when during this period exporters only adapted to the conditions of sanctions, experienced big problems with insurance and charter of ships, she said. According to her, from June 1 to June 27, ...

Source: Zol