Sovecon estimates the export of Russian wheat in July-August, the first two months of the 2022-2023 agricultural season, at 5.9 million tons.
This is 27% lower year on year and is the lowest volume since the 2017-2018 agricultural year,” TASS reports.
According to experts, this is due to the fact that prices for Russian wheat remain high compared to suppliers from the EU.
At the same time, it is expected that in 2022 a record high wheat crop will be harvested in Russia.
“The export of Russian wheat may accelerate in the short term due to falling prices in the domestic market and / or an increase in world prices for wheat,” says Andrey Sizov, head of the company.
In July, the Russian Ministry of Agriculture predicted that the grain harvest in the country at the end of the year would amount to 130 million tons.