According to customs data, in July-November of 2021/22 MY, Russia exported 18.2 mln tonnes of wheat (including deliveries to the Customs Union), down 13% y/y. Lower export was based on the decrease of wheat crop in Russia in 2021 to 75.9 mln tonnes (-12% y/y) according to preliminary estimation by Rosstat.
Iran has been the largest importer of Russian wheat so far this season. According to APK-Inform, it imported 4.3 mln tonnes of Russian wheat (24% of the overall volume harvested), up 15 times y/y.
Turkey imported 3.7 mln tonnes of Russian wheat (20% of the totaled volume exported), down 5% y/y. Egypt imported 2.7 mln tonnes (15%), down 35% y/y.
APK-Inform forecasts Russian wheat export at 32.5 mln tonnes in 2021/22 MY. Thus, Russia has already exported 56% of its overall potential.
