Exports of Russian wheat in March may be reduced by three times

In March, the Russian wheat exports will amount to 1.4-1.8 mln tonnes, which is significantly lower than 4.8 mln tonnes in 2024 and 3.3 mln tonnes on average for five years. This forecast was published by SovEcon.

Thus, the supplies may decrease threefold compared to the previous year due to the negative margin of exporters and the decline in the competitiveness of Russian wheat.

Analysts note that low profitability remains the main obstacle to exports. Currently, the margin of Russian exporters is in the negative zone, while in November it was about $10/t.

Exporters are trying to reduce purchase prices, but farmers are postponing sales. At the same time, several traders temporarily raised prices to quickly buy the necessary volumes of grain to load ships.

Tags: export, grain, Russia