Russia may become the top grain exporter in the Black Sea region

06.12.2017

The current 2017/18 season was marked by a bumper crop of grains and pulses in Russia and the market expects Russian grain exports to set a similar record. In particular, Russia is predicted to regain its leading position in global wheat exports. However, this may be not the country’s only achievement in the world grain market this season.

The pace of Russian grain exports in the first third of the season pretty confirms such market expectations. Grain exports from the country are up 30% year-on-year. They include 25% higher wheat exports than in 2016.

Domestic wheat prices in Russia stay at their lowest levels in several years, reports UkrAgroConsult. Owing to enormous grain availabilities in the domestic market along with still comparatively attractive export prices, grain shipments to foreign buyers expanded to almost peak values for port capacities.

This season’s combination of internal and external factors makes it possible for Russia to become the top grain exporter in the Black Sea region for the first time in six years.

Full version of the article is available to subscribers for weekly market report “Black Sea Grain” and “Online market review” by UkrAgroConsult.

 

UkrAgroConsult

Readers choice: TOP-5 articles of the month by UkrAgroConsult