Wheat shipments for export from the Russian Federation from June 1 to June 10 increased by 1.3%

Published Jun 12, 2024

Tridge summary

From June 1 to June 10, the Russian Federation exported 1.42 million tons of wheat, an increase of 1.3% from the previous year, despite a total export decrease of 8.4% to 1.575 million tons due to a drop in corn and barley exports. Egypt was the main buyer of Russian wheat, but purchases decreased by 36%, while shipments to Algeria and Saudi Arabia significantly increased. The number of companies shipping wheat also fell to 25 from 29 a year earlier. Saudi Arabia is the leader in barley purchases, and Iran purchased the most corn. The price of Russian wheat increased by $8 to $250 per ton, while the discount between Russian and European wheat prices decreased to $12. The Grain Union has reduced the forecast for the gross grain harvest to 130 million tons from 142 million tons.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

From June 1 to June 10, the Russian Federation exported 1.42 million tons of wheat, which is 1.3% more than in the same period last year (1.401 million tons). However, total exports during this period decreased by 8.4%, to 1.575 million tons from 1.72 million tons, according to the monitoring of the Russian Grain Union. As Elena Tyurina, director of the union's analytical department, told Interfax, the overall results were negatively affected by the fall in corn and barley exports. Thus, shipments of barley decreased by 15% and amounted to 86 thousand tons against 101 thousand tons, corn fell from 217 thousand tons to 69.6 thousand tons. According to her, Egypt became the main buyer of Russian wheat during this period, but shipments to this country decreased by 36%, to 295 thousand tons. This is followed by Algeria, which increased purchases by 2.7 times, to 182.5 thousand tons. A very significant increase in shipments to Saudi Arabia - 11 times, up to 182 thousand tons. “Turkey ...
Source: Oilworld
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.