US Department of Agriculture lowered the forecast for wheat exports from Russia
Wheat
Russia
Published Jan 14, 2022
Original content
The US Department of Agriculture in its January review lowered the forecast for wheat exports from Russia this season by 1 million tons to 35 million tons (excluding Crimea). This is due to the fact that the country is pursuing a policy aimed at securing the domestic market and stabilizing food prices by limiting exports, American analysts explain. In particular, the government decided to set a grain export quota of 11 million tons, including 8 million tons of wheat, from February 15 to June 30. From July to December 2021, Russia exported 21.6 million tons of wheat, the review says. Last year, exporters were in a hurry to take out grain before the quota was introduced, most likely this scenario will repeat itself this year, the US Department of Agriculture believes. In addition, the agency draws attention to the export duty, which for wheat from January 12 to 18 exceeds $98 per ton. These measures have affected some export markets: for example, Egypt continues to be one of the ...
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