Russian grain exports fell by nearly 25% year-on-year from January 1 to 21

Wheat

Grains, Cereal & Legumes

Russia

Market & Price Trends

Published Jan 25, 2024

Tridge summary

Russian grain exports have seen a significant decrease of 24.5% year-on-year in the first three weeks of January, according to the Russian Grain Union. This includes a 29% drop in wheat exports, particularly to Egypt, Russia's primary wheat buyer. However, barley exports have more than doubled compared to the same period last year. The decline in exports is attributed to severe weather conditions, including Black Sea storms and icy weather. Despite the export decrease, domestic wheat prices in Russia have increased in January.

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

Foreign media news on January 24: Monitoring data from the Russian Grain Union (RGU) showed that from January 1 to 21, Russia exported 2.6 million tons of grain, a year-on-year decrease of 24.5%, continuing the downward trend at the end of last year. Elena Tyurina, director of the RGU Analysis Department, said that wheat exports from January 1 to 21 were 2.1 million tons, a year-on-year decrease of 29%; corn exports were 265,000 tons, a year-on-year decrease of 32%. Barley exports during the same period increased to 203,000 tons, 2.3 times that of the same period last year. Tyurina said that the decrease in wheat exports was mainly due to the decline in exports to Egypt. As the top buyer of Russian wheat, Egypt imported 448,000 tons of wheat from Russia from January 1 to 21, a year-on-year decrease of 38.5%. During the same period, Russia exported 231,000 tons of wheat to Pakistan, a year-on-year decrease of 40%. However, exports to Bangladesh, which ranked third, ...

Source: Foodmate