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According to the report of the Russian Grain Union, Russia exported wheat to 35 countries from July 1 to August 10 of the current agricultural year, which is a decrease compared to the same period of the previous season when wheat was exported to 50 countries.
According to the director of the union's analytical department, Elena Tyurina, Egypt remains the largest consumer of Russian wheat, but its purchases have decreased by 40% to 665 thousand tons. Morocco took second place with 353 thousand tons, which is a significant increase compared to the previous year when there were no purchases to this country. Kenya ranked third with purchases of 330 thousand tons, which is 17.4% less than the previous year. Wheat deliveries to Bangladesh decreased by 48% to 315 thousand tons. Israel occupies the fifth position in the list with 290 thousand tons, which is 48.5% less than the previous shipments.
Tyurina also noted a significant decrease in wheat purchases by major importers. For example, shipments to Algeria decreased by 65% to 239 thousand tons, and to Saudi Arabia by 72% to 234 thousand tons. "Turkey reduced purchases by 75%. Currently, there is a ban on wheat imports in Turkey, and they are actively working to increase domestic wheat production. In recent years, wheat harvests in this country have significantly increased," the expert said. She also mentioned that Turkey harvested 21 million tons of wheat in the agricultural year 2023/2024, exceeding the previous season's harvest of 17 million tons.
According to the union's report, wheat exports were carried out through 41 ports, while 58 ports were used in the previous season. Novorossiysk remains the most popular port, but the volume of shipments through it decreased by 18% to 2.32 million tons. Transshipment volume in Novorossiysk decreased by 25% to 1.721 million tons. Shipments through Rostov-on-Don decreased by 13% to just over 1 million tons. Much less wheat was shipped through the ports of Azov (by 53% to 469 thousand tons), Tamani (by 35% to 434 thousand tons), and Tuapse (by 37% to 196 thousand tons). At the same time, deliveries through Vladivostok increased by 12.5% to 47 thousand tons.
Tyurina also reported on the price situation, noting that after a decrease in prices on the domestic market, an increase was recorded. Producer prices rose by 2.4% in a week and amounted to 13 thousand rubles per ton (grade 4). However, these prices remain lower than at the beginning of the season when they were 13.4 thousand rubles per ton.
On the world market, prices remain relatively stable. The price of French wheat decreased by just 1 dollar to $243 per ton, while the price of American wheat increased by 2 dollars to $220 per ton. "The price of Russian wheat (FOB Novorossiysk) rose by 1.4% in a week to $220 per ton, but compared to the beginning of the season, it remains 7% lower than on July 1 – $236 per ton," Tyurina said.
Tyurina also predicts that the sharp reduction in export duty on wheat observed recently may increase the competitiveness of Russian grain. In addition, the reduction of export opportunities by the EU (by 2.5 million tons to 34.5 million tons), Ukraine (by 5 million tons to 13 million tons), and Australia (by 1.2 million tons to 22 million tons) will have its influence. "We are witnessing an active demand for wheat and an increase in its purchases by exporters. Wheat producers are anticipating price increases," she said.
