Export of wheat from Russia collapsed by 27%
[ad_1]
In July-August 2022, wheat exports from Russia amounted to 5.9 million tons. This is 27% less than in July-August 2021. This was reported by TASS and Reuters with reference to the SovEcon agency. The company noted that these are the minimum indicators of wheat exports since the 2017-2018 season.
According to SovEcon, Russian farmers will harvest a record 94.7 million tons of wheat this year.
SovEcon believes that exports remain at low levels, since prices for wheat from Russia are higher than from other suppliers, primarily from the European Union. The company also believes that Russian exporters may face difficulties in deliveries due to the worsening weather conditions in the Black Sea and the seasonal shutdown of river navigation.
“Russian wheat exports may accelerate in the short term due to falling domestic prices and/or rising world wheat prices. We believe that the Russian domestic market is far from the bottom, while there is a high probability that the world market has already overcome it,” Sovekon said in a statement (quoted by TASS).
Due to sanctions in response to the military operation in Ukraine, Russian wheat exporters have faced problems in supplying wheat to the world market. Some large sea carriers and cargo insurers left the Russian market, and there were also difficulties with making payments in banks. As Kommersant found out, Russian wheat producers are going to develop grain sales on the domestic market.
More details – in the publication “Kommersant” “Grain Comes True”.
[ad_2]
Source link
