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According to the Russian Federal Plant Quarantine Service (Rosselkhoznadzor), from July 1 to October 28, 2021, Russia exported 15.
3 million tons of wheat, an increase of 600,000 tons from 14.
7 million tons a week ago and a 14% decrease from the same period last year
.
3 million tons of wheat, an increase of 600,000 tons from 14.
7 million tons a week ago and a 14% decrease from the same period last year
.
As of October 28, Turkey was the largest buyer of Russian wheat this year, importing 3.
1 million tons
.
This is followed by Egypt, which imported 1.
9 million tons
.
Kazakhstan replaced Saudi Arabia as the third largest buyer of Russian wheat, importing 800,000 tons
.
1 million tons
.
This is followed by Egypt, which imported 1.
9 million tons
.
Kazakhstan replaced Saudi Arabia as the third largest buyer of Russian wheat, importing 800,000 tons
.
S&P Global Platts forecasts that Russia’s wheat exports in 2021/22 will be 36.
5 million tons
.
According to data from the US Department of Agriculture, Russia will export 38.
5 million tons of wheat in 2020/21
.
5 million tons
.
According to data from the US Department of Agriculture, Russia will export 38.
5 million tons of wheat in 2020/21
.
Since August, the pace of Russian wheat exports has been declining, because export tariffs have been steadily increasing and wheat prices have also been rising
.
On November 1, the Russian 12.
5% protein wheat FOB quoted price was 322.
50 US dollars per ton, an increase of 3.
25 US dollars over October 29
.
The price of wheat in Russia has risen by more than 4% in the past two weeks due to tight supply
.
.
On November 1, the Russian 12.
5% protein wheat FOB quoted price was 322.
50 US dollars per ton, an increase of 3.
25 US dollars over October 29
.
The price of wheat in Russia has risen by more than 4% in the past two weeks due to tight supply
.
Traders added that the pace of wheat exports may slow further in the coming weeks because of further increases in tariffs
.
The Russian Ministry of Agriculture stated on October 29 that the wheat export tariff for the week ending November 16 reached US$69.
90 per ton, which was an increase of US$2.
90 per ton from the tariff for the week of November 3-9
.
.
The Russian Ministry of Agriculture stated on October 29 that the wheat export tariff for the week ending November 16 reached US$69.
90 per ton, which was an increase of US$2.
90 per ton from the tariff for the week of November 3-9
.
Russia will implement formula tax calculation from June 2nd, subtract $200 from the base price of wheat, and then multiply it by 70%
.
The wheat benchmark price in the formula is not the export contract price, but the benchmark price calculated by the Moscow Exchange
.
The export tax formula for barley and corn is based on the base price minus US$185 and then multiplied by 70%
.
.
The wheat benchmark price in the formula is not the export contract price, but the benchmark price calculated by the Moscow Exchange
.
The export tax formula for barley and corn is based on the base price minus US$185 and then multiplied by 70%
.
At present, Russia's wheat harvesting in 2021/22 is coming to an end
.
According to the Russian Ministry of Agriculture, as of October 29, Russia’s wheat harvest was 77.
9 million tons, a decrease of nearly 11% from 87.
5 million tons in the same period last year
.
The decrease in production was due to dry weather, especially in the Ural and Volga regions
.
.
According to the Russian Ministry of Agriculture, as of October 29, Russia’s wheat harvest was 77.
9 million tons, a decrease of nearly 11% from 87.
5 million tons in the same period last year
.
The decrease in production was due to dry weather, especially in the Ural and Volga regions
.
