Russian grain export reached a 7-year high




In August 2023, Russia exported 7.7 mln tonnes of grain, according to the monitoring of the Russian Grain Union. As reported by "Interfax" with reference to the director of the analytical department of the union Elena Tyurina, this was a record figure for the last 7 years, and it was also 32% higher than the export in August last year.

In particular, in August, the export of wheat amounted to 6.5 mln tonnes (+36.6% y-o-y), barley exports increased by 7% to 997,000 tonnes, and corn exports increased by almost 1.9 times to 212,000 tonnes.

According to E. Tyurina, in general, since the beginning of the current season, Russia shipped 13.3 mln tonnes of the main types of grains, which is 1.6 times more than in the first two months of the previous season (8.5 mln tonnes), including 11 mln tonnes of wheat exports (+1.5 times).

Egypt was the largest importer of Russian wheat in August, which imported 910,000 tonnes.

Algeria is the second largest importer. The deliveries to this country increased almost 7 times, up to 610 thsd tonnes.

The third place was taken by Turkey – 481 thsd tonnes. At the same time, shipments in this direction decreased by 32%.

Besides, the top 5 buyers of Russian wheat in August also included Kenya (supply increased 12 times to 444,000 tonnes) and Bangladesh (319,000 tonnes). In August 2022, there were no shipments to this country.

It is reported that on average in the Russian Federation, prices for 4-grade wheat decreased by 300-400 RUR/t, to 13`500 RUR/t.

"In US dollar terms, the producer's price was 141 USD/t, which is 4% lower week-on-week, but 8% more than at the beginning of the season (as of July 1, 2023)," O. Tyurina said.