Russia’s wheat export in June may be 3 times higher than last year's level – experts




In June, Russia can export about 2.8-3.2 mln tonnes of wheat, which will exceed last year's figure by about 3 times. This forecast was declared by analysts of the SovEcon center.

According to experts, despite the seasonal slowdown in export activity, Russia continues to actively export wheat amid record stocks. Thus, according to the data of the ports, the volume of wheat exports last week amounted to 0.77 mln tonnes against 0.65 mln tonnes a week earlier.

“In general, SovEcon expects active wheat exports in the new season amid expected high supply. We estimate it at 45.7 mln tonnes, which is 1.3 mln tonnes more y-o-y,” the report says.