SovEcon analysts have released the export forecast for Russian Wheat in 2022/23 compared to the previous estimate by 0,3 million Tonnen increased to 43,4 million tons.
The company has increased its forecast for wheat exports from Russia to 2022 million tons from 23 million tons in the 43,1/43,4 season, reflecting rising import demand and higher crop estimates.
It is also noted that the export of Grains from July to September this year is estimated at 10,2 million tons, which is 22% lower than the same period last season and 14% worse than the average of the last five years.
As the analysts explained, “exports will be supported by a strong Rubelcourse and an export tariff hindered”.