Russia’s 2021-22 wheat exports fall 21% on year, prices decline

Russia exported 23.6 million mt wheat between July 1 and Jan. 27 during the marketing year 2021-22 (July-June), down 21% year on year, while export prices declined $2 week on week, data from the Russian Federal Service for Veterinary and Phytosanitary Surveillance showed Jan. 31.

S&P Global Platts Analytics has estimated Russian MY 2021-22 wheat exports at 36.5 million mt.

Russia, the world’s largest wheat exporter, sold 38.5 million mt of wheat in MY 2020-21, according to data from the US Department of Agriculture.

The country’s wheat harvest was at 79.1 million mt in MY 2021-22 as of Dec. 30, compared with 88.1 million mt, a year ago, according to the agricultural ministry.

Russia’s wheat output is expected to fall in MY 2021-22, due to adverse weather conditions, particularly dry and warm summers.

Platts Analytics has projected Russia’s wheat crop at 77.6 million mt in MY 2021-22.Read More

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