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Russia’s wheat exports rise by 11% to 40.85 mln tons — experts

According to Rusagrotrans analytical center, grain exports from July 2023 to March 2024 reached 53.9 mln tons, rising from 44.9 mln tons the previous season

MOSCOW, April 8. /TASS/. Wheat exports from Russia since the start of the current crop season to March 2024 totaled 40.85 mln tons, which is an 11% increase over the previous season, Rusagrotrans analytical center told TASS.

"In July-March of the 2023-2024 season, the export of wheat from Russia (including the EAEU countries) reached 40.85 mln tons, exceeding the record of the last season by 11%, when 36.65 mln tons were exported," the report said.

Wheat exports reached 4.6 mln tons in March 2024, according to latest estimates. "The same volume can be exported in April 2024," the statement said. At the same time, the analytical center revised its projection of wheat exports for the entire 2023-2024 season from 52.5 mln tons to 53 mln tons, with grain exports potentially reaching nearly 70 mln tons.

According to the analytical center, grain exports from July 2023 to March 2024 reached 53.9 mln tons, rising from 44.9 mln tons the previous season, or a 20% increase mainly to wheat and, to a greater extent, corn and barley.

According to experts, Egypt is now ahead of Turkey in terms of Russian wheat imports for the first time since the season began. In all, Russia exported 5.9 mln tons to Egypt, including private buyers, between July 2023 and March 2024. Turkey, which ranks second among Russian wheat importers, received 5.5 mln tons against 6.3 mln tons last year "due to the record harvest in the country," expert noted.

At the same time, deliveries to Bangladesh, which ranks third among Russian wheat importers, increased by 150% between July and March of the 2023-2024 season, totaling about 3 mln tons. Pakistan (fourth place) boosted imports by 25%, totaling 2.1 mln tons. Algeria ranked fifth with a volume of 1.75 mln tons (+7%).

Russian Minister of Agriculture Dmitry Patrushev announced in February 2024, during a meeting with Russian President Vladimir Putin, that Russian grain exports could reach 70 mln tons by the end of the season.

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