Russian grain exports fell by 10% in October

Published Oct 21, 2024

Tridge summary

From October 1 to October 20, Russia's grain exports totaled 3.93 million tons, a 10% decrease from the same period in 2023, with wheat making up 89.4% of these exports. This decrease is due to a decrease in gross harvests, with the number of exporting companies and the geography of deliveries also narrowing. Egypt, Turkey, and Algeria were the largest buyers, with significant increases in shipments to Kenya, Morocco, the UAE, Jordan, Venezuela, and Nigeria, while decreases were seen in shipments to Bangladesh, Iran, and Yemen. The main ports for shipments were Novorossiysk and Vysotsk, with a stable market price for Russian wheat. Domestic wheat prices also fell slightly over the week.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Moscow. October 21. INTERFAX.RU - From October 1 to 20, Russia shipped 3.93 million tons of major grain crops for export, which is 10% less than in the same period in 2023, according to monitoring by the Russian Grain Union. As Elena Tyurina, director of the union's analytical department, told Interfax, wheat shipments fell by 5%, to 3,512 thousand tons. "But this is already a smaller gap than it was in September, when shipments fell by 16%," she said. Barley exports fell by 14%, to 312 thousand tons, and corn exports fell threefold, to 102 thousand tons. "In principle, this dynamic is expected, since the export potential in the current season (July 2024-June 2025 - IF) is lower due to a decrease in gross harvests," Tyurina said. "At the same time, monthly deliveries correspond to the average figures for the past five years, even slightly more. In September, wheat exports from Russia amounted to 5.3 million tons, the average monthly figure for the past five years is 5 million ...

Source: Interfax