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Russian Grain Union: Russian Grain Exports Up 1% year-on-year in October
Release time:
2024-11-20 15:00
Source:
Nov. 5: Russia exported 7.14 million tons of grain in October, up 1% from a year earlier, according to Interfax, citing data from the Russian Grain Union.
Russian Grain Union Director of the Department of Analysis Elena Tyurina said that this represents the first time since July of this year's exports to achieve growth. wheat exports in October was close to 6.5 million tons, compared with 5.8 million tons in the same period last year, an increase of 10.8%. Barley exports were down 31.6% at 430,000 tons and corn exports were down 62.5% at 217,700 tons.
From July to October of 2024/25, Russia exported 25 million tons of grains, down 13% year-on-year; of which 21.8 million tons of wheat were exported, down 7% year-on-year.
By the end of October, Russia's wheat exports to Egypt increased 1.8 times to 1.358 million tons. Ranking second was Algeria, with exports of 516,000 tons, up 15% year-on-year. In the top three was Turkey, but exports to that country fell by 45% to 512,500 tons.
The Russian Grain Union forecasts Russian grain production in 2024/25 at an estimated 125 million tons, down 13.7% from the previous year. Wheat production is 83 million tons, down 10.7% from the previous year; barley production is estimated at 17.5 million tons, down 17.1% from the previous year; and corn production is estimated at 13 million tons, down 21.7% from the previous year.
The Russian Grain Union estimates 2024/25 wheat exports at 45 million tons, barley exports at 5 million tons, and corn exports estimated at 3 million tons.
Since wheat exports so far this year are approaching half of export potential, if they continue at the same pace, exports will reach full-year potential export levels by February.
Russia usually implements export quotas during the second half of the year (February through June). Tyurina expects Russian grain opening stocks for 2025/26 to be 32.7 million tons by July 1, 2025, compared with 46.3 million tons in 2024/25.
By July 1, 2025, Russian barley beginning stocks will fall to 5.7 million tons, down from 7.8 million tons the previous year, and corn beginning stocks will be reduced to 500,000 tons from 900,000 tons.
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