SovEcon lowers 2023/24 Russian wheat exports to 48.6 million tons

Foreign media news on December 28: The consulting agency SovEcon released a report, reducing Russian wheat exports in the 2023/24 season (July to June) from the previously expected 48.8 million tons to 48.6 million tons. The reason for the reduction is due to recent weakness in exports. ​ Russian wheat exports in November were estimated at 3.5 million tons, down from 4.3 million tons in the same period last year; exports in December were estimated at 3.8 million tons, down from 4.1 million tons in the same period last year. ​ "Rising freight rates due to difficulties with ship traffic in the Suez Canal and the Red Sea," coupled with the arrival of Australia's new wheat harvest in the coming months, may also intensify export competition and lead to a slowdown in Russian wheat exports. ​ SovEcon said wheat shipments at Russian ports slowed in December compared with the autumn. Wheat exports in the first three weeks of December were 2 million tons, down from 2.3 million tons in ...