January export of Russian wheat to decline one-third y/y




In January, Russia will export about 2.1-2.3 mln tonnes of wheat (including deliveries to the EAEU), down 36% compared to January 2020, declared the Head of the analytical center at Rusagrotrans JSC, Igor Pavensky.

He said that the Russian exporters raised sharply wheat shipments in January ahead of the quota that would come in force in February. Russia exported 3.45 mln tonnes of wheat in January 2020 and 1.9 mln tonnes in January 2019.

“We estimate export of Russian wheat in the first half of 2021/22 MY at 21.7 mln tonnes, down slightly from initial expectations. The main reason is decline of shipments in December due to unfavorable weather conditions. Russia exported 3.26 mln tonnes of wheat in December”, – he said.

I. Pavensky added that Russia would export about 33.4 mln tonnes of wheat in 2021/22 MY, down from 39 mln tonnes year ago.