Grain exports from Russia continue to increase, driven by strong global demand. According to the Russian Grain Association, between August 1st and 27th, the country increased its wheat, barley and corn shipments by 27% to 6.4 million tons, compared to the same period last year. Data is provided by the agency Interfax.
According to the analysts of the Union, according to the results of August, grain exports from the Russian Federation will be 7.3 million tons, an increase of 26% compared to the level of August 2021. Including the wheat supply, it will increase by 34% to 6.1 million tons, and the barley supply will increase by 18% to 1 million tons.
In July-August, the two months of the new season, Russia exports 45% more wheat compared to the previous year – 10.6 million tons. At the same time, the geography of deliveries is changing significantly. Algeria, not Egypt, became the leading importer; Demand for Russian grain grew rapidly in African and Latin American countries.
Exports increased due to a positive harvest in Russia in 2022. Experts predict that the high demand for Russian wheat will continue until the end of the year. Domestic prices remain stable for now.
Since the beginning of the season, the cost of wheat in rubles for Russian producers has increased by 14.5 percent and by 7 percent in dollars. The largest domestic grain traders take an active role in exports.
Before that, France judge in the grain market.
Last ship previously covered by grain agreement left Black Sea.