Russian wheat exports reached a record high of 4.6 million tons in April, maintaining competitiveness in the global market.

"SovEcon" estimates Russian wheat exports in April at an unprecedented 4.6 million tons compared to 4.4 million tons last year and an annual average of 2.9 million tons. Russia exports wheat with a high degree of competitiveness. The competitiveness of Russian wheat remains at the highest level. Over the past week, the price of Russian wheat was $211 per ton FOB, while French wheat cost $220 per ton. Two months ago, Russian and French wheat were offered at the same price of $227 per ton FOB. In the past week, the competitiveness of Russian wheat could have strengthened due to a sharp rise in European exchange quotations. On Monday, the contract for May French wheat on the MATIF exchange closed at $230 per ton, which is 6% higher than the previous week. The resumption of internal navigation could also contribute to export growth. From April 1, navigation on the key Volga-Don Canal was opened, which is an important route for internal cargo transportation. Although TD "Rif," one of the largest Russian exporters, faced difficulties in obtaining the necessary documentation, this does not have a significant impact on the Russian export campaign. Analysts believe that the current active exports will support the exchange rates of the ruble.