Union: Russia’s grain exports hit record in July 1–December 15

MOSCOW, Dec 26 (PRIME) -- Russia’s grain exports soared by 33% on the year to a historic record of 30.8 million tonnes from the start of the current agricultural year on July 1 through December 15, the Union of Grain Exporters said in a statement on Tuesday.

“Grain exports has been setting historic records since the beginning of the season. The exports amounted to 30.8 million tonnes as of mid-December (a 33% rise on the year), of which wheat exports amounted to 23.7 million tonnes (a 23% rise),” the union said.

The result is exceptional taking into account the ongoing problems with settlements and financial support of the transactions, the union said.

Indonesia, which imported no Russian wheat in 2022, has become one of the top-10 importers of the product by buying 892,000 tonnes since July 1 because of a 15 million tonne drop in the grain harvest in Australia, the main exporter of grain to Southeast Asia. Bangladesh also raised imports of Russian wheat by 1 million tonnes on the year to 1.7 million tonnes in the period following India’s decision to ban wheat exports in 2022.

The usual leaders of the charts reduced their purchases, with Turkey buying 3.7 million tonnes of Russian wheat, a 9% decrease, and Egypt buying 2.7 million tonnes, a 13% drop, the union said.

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