Volga Baikal AGRO NEWS Update on the Forecast for Wheat Exports from Russia !!!
In 2021-2022 agricultural year wheat exports from Russia can reach 34.1 million tons.
The SovEcon analytical center raised the forecast for wheat exports from Russia in 2021-2022 agricultural year (ending at the end of June) by 0.2 million tons, to 34.1 million tons.
The forecast was revised against the backdrop of current high export rates, the analyst firm said in a statement. The estimate could be even higher, but the limit is the export quota of 8 million tons, which is valid until July.
The export of Russian wheat in April is estimated at 2.3 million tons, which is 69% more than a year earlier (in March-April of the last agricultural year, deliveries fell sharply after the introduction of a new export duty), but close to the average for recent years. Egypt, Iran and Turkey remained the main buyers of Russian wheat in April.
In May-June, exports will decline, as traders choose export quotas, in July, when the quota ceases to operate, supplies may increase sharply, Andrey Sizov, head of SovEcon, predicts.
Provided that there are no sanctions directly affecting the export of Russian grain, traders can start aggressive sales without waiting for the new crop to arrive – there are enough grain reserves of the old crop in the south of the country near the terminals, Sizov said, quoted in the message.