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In February of the current year, South Korea acquired a huge volume of wheat from Russia - 52.1 thousand tons, which is the highest value in the last six years. This is according to the analysis of local customs data presented on RIA Novosti.
The volume of wheat deliveries doubled in a month and increased 38 times in a year. The last time such a quantity of wheat was delivered was in October 2018, when the volume reached 57.8 thousand tons. The cost of Russian exports also increased in February - doubling and reaching $13.1 million.
As a result of these deliveries, Russia for the first time since the beginning of 2021 entered the top three wheat suppliers to South Korea, holding an 11% market share. American suppliers were the undisputed leaders with a 62% share of total imports by this Asian country, followed by Australia with a slightly lower share of nearly 27%. Other wheat suppliers have insignificant shares in the South Korean market.
In addition to wheat, Russian companies significantly increased their sales of corn to South Korea - by 1.7 times in a month, reaching the highest level in the last three years - 77.4 thousand tons worth a total of $20.3 million. Russia holds an 8.6% share in the total import volume of this country.
The United States of America are also the main corn supplier to the South Korean market - accounting for 486.2 thousand tons out of the total import volume of 898.1 thousand tons at the end of winter. Argentina also supplied 191.2 thousand tons, while Brazil supplied 102 thousand tons.
