The export of Russian wheat in April will be nearly a record




In April, Russia can export about 4.2-4.5 mln tonnes of wheat, which is close to the record for this month, forecasted Sovekon company, TASS reports.

"The forecast volume of wheat exports can only be lower than the level in April 2020, when a record 5 mln tonnes were exported for this month. Then, amid the introduction of the customs duty, traders actively began to issue customs declarations for future supplies," the message explains.

As analysts noted, the export of Russian wheat is accelerating due to a decrease in grain prices in the country and the stabilization of global markets. Thus, as of April 6, the prices for 3rd-grade Russian wheat decreased to 11`475 RUR/t. The last time such a low price was recorded was November 27, 2019. High stocks and low demand for wheat in the country are the main factors of price reduction.

At the same time, according to the company, export prices for wheat, on the contrary, stabilized.

"Strong exports and increased demand from traders can support prices, first of all, in the south of the Russian Federation," experts believe.