Russia speeds up grain export ahead of quota period




For period February 1-10, Russia exported 1.238 mln tonnes of major grains, which is 1.56 times (445 thsd tonnes) more than for the same period last year, Interfax reports citing Russian Grain Union.

According to Elena Turina, director of RGU analytical department, shipments of Russian wheat increased by 76% to 1.014 mln tonnes in the first ten days of February, corn by 18% to 165 thsd tonnes. At the same time, barley exports decreased by 3.4% to 59.4 thsd tonnes.

According to her, 124 thsd tonnes of grain were exported daily against 79 thsd tonnes for the first ten days of February 2022. In particular, daily shipments of wheat amounted to 101 thsd tonnes against 57.5 thsd tonnes a year earlier.

“Based on this trend, we can say that from the beginning of the month until February 15, that is, until the date the export quota comes into force, 1.858 mln tonnes of all types of grain will be shipped against 1.189 mln tonnes for the same period a year earlier. In particular, shipments of wheat may amount to 1.52 mln tonnes against 863 thsd tonnes last season”, – the expert predicts.

Thus, from the beginning of the current season until February 15, 2023, grain exports from Russia are estimated at 36.9 mln tonnes, including 32.5 mln tonnes of wheat, about 3.1 mln tonnes of barley and 1.4 mln tonnes of corn.

“Based on the forecast for grain exports in the current season at 62.7 mln tonnes, the export potential for the period of the quota (from February 15 to June 30) can be estimated at 25.8 mln tonnes, including 19.5 mln tonnes of wheat. That is, it actually corresponds to the volume that is included in the quota (25.5 mln tonnes)”, – E. Turina noted.