The additional grain export quota of 5 million tons set by the Russian government will help increase the share of Russian wheats on the world market to up to 30%. This was announced by Eduard Zernin, Chairman of the Board of the Association of Grain Exporters.
“This season, Russia's share of the world market will increase Wheat (taking into account the additional quota) amounts to 30%. We have greatly diversified our exports and ship all over the world. China is probably one of the last remaining bastions,” said Zernin.
In his opinion, the lifting of restrictions on winter wheat deliveries to China will help significantly increase exports to this country. Currently, only spring wheat imports are permitted, which severely limits geographical options.
Previously, Rusagrotrans reports that China has already produced a record amount of wheat and wheat in the current agricultural year Barley bought. In general, China is now third on the list of largest importers.
According to the Grain Exporters Association, as of April 14, China ranked first in purchases of grain legumes from Russia with 1,027 million tons. Turkey comes in second place (719.000 tons), followed by Spain (392.000 tons). In fourth place is India (378 thousand tons), in fifth place is Pakistan (133 thousand tons).
The positions among wheat importers are distributed as follows: Egypt - 6,3 million tons (-2,4%), Turkey - 6 million tons (-4%), Bangladesh - 2,8 million tons (+158,7%) , Pakistan – 2,1 million tonnes (+21,7%), Algeria – 1,8 million tonnes (+7,4%).
The Russian Ministry of Agriculture predicts that grain exports will reach a record 2023 million tons at the end of the 24/70 season.
Source: oleoscope (Russian)