Wheat exports in March fell by 2.9 times

In March, Russia's wheat exports significantly decreased to 1.78 million tons, a 2.9 times drop compared to the previous year, according to the Russian Grain Union. Despite initial projections, exports to 21 countries, including major buyers like Egypt, Bangladesh, and Sudan, saw a decline in import volumes. The price of Russian wheat increased slightly, while prices for French and American wheat remained relatively stable. This, along with other factors, led to a decrease in export profitability, contradicting predictions of increased exports due to higher prices.

In March, Russia exported 1.78 million tons of wheat, 2.9 times less than in March last year (5.13 million tons), Interfax writes, citing monitoring by the Russian Grain Union. Elena Tyurina, director of the union's analytical department, told the agency that at the end of the second ten-day period of the month, shipments were forecast at 1.6 million tons, but in the last ten days, exports increased, which made it possible to reach a higher figure. Since the beginning of the season, according to the union, 36 million tons of wheat have been shipped to foreign markets, and the export potential in April-June is estimated at 42 million tons. According to Tyurina, in March, Russian wheat was supplied to 21 countries, compared to 41 a year earlier. The largest buyer was Egypt, which imported 301.5 thousand tons, 4.7 times less than in March last year, when 1.42 million tons were shipped there. Deliveries to Bangladesh decreased by 2.4 times, from 357 thousand tons to 151 thousand tons. ...