Due to the reduction in wheat supply on the market, countries are expanding the pool of suppliers

Against the backdrop of decreasing wheat supply on the market, importing countries are trying to diversify risks and increase the number of suppliers.

This was reported by Liza Malyshko, Head of Market Research at UkrAgroConsult, during the conference Black Sea Grain. Kyiv 2024 conference.

“Romania and Bulgaria harvested a good wheat crop last year, which allowed these countries to significantly increase their exports. It is worth noting that they exported not to their traditional markets of neighboring European countries, but to Indonesia and Algeria. Until now, the Algerian market has been mostly supplied with French wheat,” says Liza Malyshko.

The analyst noted that for the first time in many years, Russia entered the Indonesian market with wheat. In addition, this year, the largest wheat supplier in the Black Sea region, Russia, has seen export volumes close to the maximum monthly figures.

“They are doing well in their traditional markets – Turkey and Egypt – and have increased exports to other destinations as well. Russia is expected to increase wheat production next season. Even the floods that are currently occurring in some of its regions will not affect the wheat harvest, as winter crops are not a key crop in the flooded regions,” said Liza Malyshko.

Tags: Russia, Bulgaria, Egypt, Turkey, Romania, Indonesia, Algeria, wheat