Volga Baikal AGRO NEWS Update on the Wheat Exports from Russia !!!

The potential volume of grain exports until the end of the season is estimated at 7 million tons

Volga Baikal AGRO NEWS Update on the Wheat Exports from Russia !!!

Weekly rates of shipment of wheat from the Russian Federation slowed down, other crops – increased.

The potential volume of grain exports until the end of the season is estimated at 7 million tons.

The volume of wheat exports for the week from May 2 to May 9 fell by almost 60% compared to the previous week, to 264.3 thousand tons, while the volume of supplies of corn and barley increased by 65% ​​and 88%, respectively, according to the monitoring of the Russian Grain Union (RGU).

Thus, 162.3 thousand tons of corn, 68.2 thousand tons of barley were delivered during the week. Wheat was shipped from seven ports, the maximum volumes were traditionally exported through Novorossiysk, while the volume of export through these gates decreased by 128.6 thousand tons – up to 101.8 thousand tons per week. A decrease in shipments was recorded in all major ports, which is associated with the May holidays in Russia. During the week, the geography of wheat exports decreased, it was shipped to eight countries against 10 a week earlier. The main volumes – 47 thousand tons – were delivered to Turkey. Shipments of wheat to Egypt decreased to a minimum level – 16.6 thousand tons. Exports to Sudan and Tunisia have intensified. Export was carried out by only six companies.

The potential volume of grain exports from Russia in the remainder of the 2021/22 season is estimated at 7.04 million tons, including 1.45 million tons of wheat. In total, according to the union, since the beginning of the season, almost 38 million tons of grain have been exported from Russia, including 33.55 million tons of wheat.

The prices of the main world markets rose slightly. The 12.5% ​​FOB Novorossiysk price discount for Russian wheat against EU France fell to $28 per ton from $41 a week earlier, but this also kept Russian wheat attractive for its traditional buyers.

The growth factor in the price of the cost of Russian wheat 12.5% ​​FOB Novorossiysk by 4.2%, to $401 per ton, was information about the low export potential of Russia until the end of the 2021/22 season, RZS explains. At the same time, there was a decrease in the indicator prices of the Ministry of Agriculture by 2.3% and, accordingly, the export duty on wheat by 4.8%.

 

Volga Baikal AGRO News Update ......

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