Russia to export up to 3.8 mln tonnes of wheat in December




Russia will increase export of wheat in December However, it will be lower compared to the same month of 2020, declared the Head of the analytical center at Rusagrotrans JSC, Igor Pavensky.

“Wheat export was about 3.2-3.3 mln tonnes in October-November. It can amount to 3.6-3.8 mln tonnes in December, including supplies to the EAEU. Russia exported 4.2 mln tonnes of wheat in December 2020”, – the expert said.

The growth of wheat export will be based on the strong demand from Iran, Algeria, Turkey, Ethiopia.

“I suppose that new-crop of Argentinian wheat that will be significantly larger y/y as well as high production in Australia will not bring the prices to the level that would require a correction of export duty mechanism in Russia. Moreover, from spring onward the prices usually start declining ahead of the new-crop in the Northern Hemisphere”, – he added.