Russia's grain exports to fall below 35 million tonnes in first half of 2024/25

Russia's grain exports have reached 61% of the annual estimated potential of 56 million tons, with wheat exports at 65% of the potential, according to Elena Qiulina, director of the RGU analysis department. The remaining potential for the second half of the year is estimated to be 21.7 million tons, including 16 million tons of wheat. Egypt is the largest buyer of Russian wheat in the first half of 2024/25, followed by Bangladesh and Algeria, while exports to Turkey have seen a significant decrease.

Elena Qiulina, director of the RGU analysis department, said that if we start from the estimated value of 56 million tons of grain export potential for the whole year (including 46 million tons of wheat), as of January 1, Russia's grain exports have achieved 61% of the potential and wheat exports have achieved 65% of the potential. Therefore, RGU estimates that the grain export potential in the second half of the year is 21.7 million tons, including 16 million tons of wheat. The main buyer of Russian wheat in the first half of 2024/25 was Egypt, to which Russia shipped 6.348 million tons of grain, a year-on-year increase of 48.5%. Bangladesh ranked second, with 2.652 million tons of grain shipped to the country, the same as the same period last year; followed by Algeria, ...