The export of Russian wheat exceeded 40 mln tonnes in 2022/23 MY




As of April 17, Russian grain export in 2022/23 MY is estimated at 47.8 mln tonnes, of which 41.6 mln tonnes is wheat, according to Russian Grain Union data, Interfax reports.

From April 1 to 17, Russia exported 2.85 mln tonnes of grain, which is almost 2.3 times higher year-on-year, including, 2,34 mln tonnes of wheat (+2.4 times y-o-y).

"The export of corn and barley is starting to grow. The shipment of corn this month increased by 55% compared to the first half of April 2022, to 328 thsd tonnes, and barley – by almost 3.4 times, to 187 thsd tonnes. Based on this trend, we can say that about 4.4 mln tonnes of wheat can be exported in April, and 5.3-5.4 mln tonnes of grain in general, depending on the dynamics of corn and barley shipments," - said the director of the RGU analytical department, Olena Tyurina.

She also reported that in April, Turkey was a leading buyer of Russian wheat – 706 thsd tonnes, which is 25% higher y-o-y. Shipments to Egypt also increased – by 3.3 times, up to 322 thsd tonnes. Saudi Arabia became the 3rd largest buyer, which did not purchase Russian wheat in April last year.

"Calculations show that for the rest of the current season, another 14.2 mln tonnes of Russian grain can be delivered to the global market, including 10.4 mln tonnes of wheat. This is about 5.7 mln tonnes of the main grains per month, including 4.2 mln tonnes of wheat," the analyst predicts.