Wheat exports of Russia in December will be lower than last year

Published 2024년 12월 30일

Tridge summary

The Rusagrotrans and SovEcon Analytical Centers have made their predictions on the Russian wheat export market for December 2024 and the early part of the 2024/25 season. Rusagrotrans forecasts a slight decrease in December exports compared to the previous year, but a significant increase in overall first-half exports, reaching a record 29.4 million tons. SovEcon, on the other hand, predicts a slight uptick in December exports. These projections are supported by the significant demand from key importers like Egypt, Bangladesh, and Kenya, which have increased their purchases of Russian wheat substantially. The dynamics of the market are also influenced by the import restrictions introduced by Turkey and the changes in import patterns of other countries such as Algeria and Iran.

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

Original content

The Rusagrotrans Analytical Center has kept its forecast for wheat exports in December unchanged at 3.7-3.8 million tons, taking into account the EAEU countries, against 4.06 million tons in December 2023. As a result, wheat exports in the first half of the 2024/25 season will reach a record 29.4 million tons, which is 1.7 million tons higher than the record of last season, when 27.7 million tons were shipped, the center told Agroinvestor. The SovEcon Analytical Center has increased its estimate for Russian wheat exports in December from 3.3 million tons to 3.4 million tons, Reuters writes. According to the center's preliminary estimate, barley exports in December reached 150 thousand tons, and corn — 250 thousand tons. The Institute for Agricultural Market Studies previously estimated wheat exports in July-December at 28.4 million tons. In the first half of the current season, Egypt became the leader in Russian wheat imports, where 5.3 million tons were shipped — 1.8 times more ...

Source: AgroInvestor