Russian wheat conquered the market of Vietnam

25.04.2018

Russia exported roughly 3.3 MMT of wheat in February 2018 that is up 161% from February 2017, reports UkrAgroConsult.

Russia increased wheat exports by 43% in July-February 2017/18, when they totaled almost 27 MMT versus 18.9 MMT at the same time last marketing year. In addition, this is as much as shipped abroad for the whole of MY 2016/17. 

Along with steadily high deliveries to their traditional buyers, Russian exporters actively advance into new markets, UkrAgroConsult’s analysts note.

So, in the period under review, Russia exported a record over 1 MMT of wheat to Indonesia compared to 344 KMT for the whole of MY 2016/17. Ukraine is outstripping Russia there: 1.8 MMT of Ukrainian wheat was shipped to Indonesian buyers in January-February 2018. However, an apparent lag is seen in the boosting of deliveries: Russian shipments to Indonesia were up 201% year-on-year, whereas Ukrainian exports to this market gained just 12%.

A substantial preponderance of Russian exporters is present in African markets. 11.1 MMT was shipped from Russia to Africa in the period under review.

In addition, Russia substantially increased wheat supplies to the market of Vietnam. Russia exported some 1.1 MMT of wheat to the country at the time compared to 124 KMT shipped in MY 2016/17, when this was still a newly opened market.

Also, Russian exporters supplied much more wheat than last year to the markets of Korea, Kenya, Mozambique, Oman, the UAE, as well as to Ghana, Congo, Peru, Venezuela, Malaysia, Philippines and some other countries.

 

UkrAgroConsult

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