Bangladesh stepping up Russian wheat imports

31.01.2017

Russia exported 2420 KMT of wheat in December 2016, or 21% less than in December 2015 (3053 KMT).

In the first half of 2016/17, Russia nevertheless exported a bit more wheat than at the same time last year (roughly 15.7 MMT against 15.6 MMT in July-December 2015/16).

Traditionally, the key destination markets for Russian wheat are Egypt and Turkey with respective market shares of 20% and 11%. However, an important feature of the current season was increased Russian wheat deliveries to Bangladesh, UkrAgroConsult notes. The country has already absorbed 10% of all wheat shipments from Russia in MY 2016/17. Going on at this pace, Bangladesh could replace Turkey as a major outlet market based on the season’s result, particularly in view of the country’s growing need for wheat imports. 

Russia supplied roughly 1.5 MMT of wheat to Bangladesh in the first half of the current season. This is the all-time largest amount of Russian wheat shipped to this country. This volume has already exceeded that exported for the entire last season by 25% (1.2 MMT was shipped in MY 2015/16).

 

UkrAgroConsult

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