Russian grain exports continued to grow after the introduction of the quota

Wheat

Published Feb 29, 2024

Tridge summary

Despite the introduction of export quotas, Russia's grain exports have surged by 23.5% to 1.87 million tons, with wheat accounting for 1.478 million tons. Barley and corn supplies also saw significant increases. The main buyers were Egypt and Turkey, with new deliveries starting to Kenya and Oman. However, the number of wheat exporting companies and shipping ports has declined. The Ministry of Agriculture has proposed increasing the export quota to 28 million tons, but a final decision is pending. The export potential of grain for this year, until June 30, is estimated at 24.3 million tons, which includes 19.7 million tons of wheat.

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Original content

Grain exports from Russia continue to grow even after the introduction of export quotas on February 15. From then until February 25, supplies of basic grains increased by 23.5 percent to 1.87 million tons, Interfax reports, citing data from the Russian Grain Union (RGU). Of these, wheat accounted for 1.478 million, or 17.3 percent more, supplies of barley increased 2.2 times to 192 thousand, and corn supplies increased by 20.7% to 200 thousand. The most active buyers of Russian grain were Egypt and Turkey – 210,000 and 69,000 tons (53 and 58 percent less). Deliveries also began to Kenya and Oman - 60 and 66 thousand. A year ago, grain was not imported there. The bulk of corn is supplied to Iran - 102,000 tons or almost twice as much. 60,000 and 27,500 tons (2.5 times more) are purchased by Vietnam and Libya. The largest importer of barley was the UAE with 98 thousand tons, followed by Saudi Arabia with 54, Libya with 21 and Iran with 18 thousand. Also, since the same period last ...

Source: Rosng