Saturday, September 23, 2023
HomeFoodRussian grain exports may slip from record-high 2022/23 – lobby group


To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Russian grain exports may slip from record-high 2022/23 – lobby group

Russia may export at least 55 million tonnes of grain in the 2023/24 marketing season, slightly less than the estimated record-breaking 57 million tonnes in the just finished 2022/23 season, Arkady Zlochevsky, head of Russia’s Grain Union, said on Monday.

He estimated the 2023 harvest at no less than 130 million tonnes, compared to 157.7 million tonnes in 2022, highlighting at a press conference improved weather conditions for the new crop in several regions of the country, especially in Siberia.

Zlochevsky also pointed at bulky grain inventories as a precursor to high exports.

“We expect to export no less than 55 million tonnes next season,” he said.

Data from Russian state statistics service Rosstat show grain stocks as of May 2023 were 61.5% higher than last year’s level, while that of wheat is 69.4% higher.

Russia’s agriculture ministry in May forecast grain exports between 50 million tonnes and 55 million tonnes for the 2023/24 season.

Exports for the 2022/23 season that ended last week were a record high, Zlochevsky said.

The previous record-high for Russian grain exports was in the 2017/18 season, when they reached 54.8 million tonnes.

“By all means, the record is beaten, a new record has already taken place,” he said.

The largest importers of Russian grain in the just-ended marketing season were Egypt with 11.92 million tonnes and Turkey with 10.25 million tonnes and Algeria was for the first time in the top three with 3.26 million tonnes of grain.

Source: Reuters

Related Posts


Finance & Economy
Shipping News

Trafigura announces executive leadership changes

Trafigura Group Pte Ltd. has announced an evolution of its executive team to further strengthen leadership and focus across its global activities during a...

Woori, HMM, KOBC to buy Polaris in prospective $448 mln deal – report

Polaris Shipping Co. is poised to sell its entire stake at around 600 billion won ($447.5 million) to Woori Private Equity Asset Management Co....

Pyxis Tankers Announces Closing of Ultramax JV Investment

Pyxis Tankers, an international shipping company, reported that on September 14, 2023, the Company closed on its previously announced newly formed drybulk joint venture...

Korea’s STX denies rumor that it is backed by Chinese fund

South Korean general trading company STX Corp. has said its largest shareholder is a local investment firm, while refuting the false reports appearing through...

Navios Holdings Announces Receipt of Buyout Offer

Navios Holdings announced that its board of directors received an unsolicited non-binding proposal from N Shipmanagement Acquisition Corp. (“NSC”) to acquire all of the...

Baltic index snaps 11-session rally as rates for larger vessels ease

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Baltic index rises for 11th straight session on strong vessel rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

The elite of the Shipping Industry meets at the “Maritime Cyprus 2023” Conference

The main theme of this year’s Conference is “Shipping in Action: An agenda for...

Maritime industry explores nuclear power for ships as technology opens up

The maritime industry is exploring whether nuclear fuel can be used to power commercial...

Baltic index logs best day in almost two months on capesize demand

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Vopak: Agreement with Infracapital on sale of Rotterdam chemical terminals

Vopak announces that it has reached an agreement with Infracapital on the sale of its three chemical terminals in Rotterdam (Botlek, TTR and Chemiehaven)...

Port Hedland Iron Ore Exports Edge Up 4% in August

Pilbara Ports Authority has delivered a total monthly throughput of 62.8 million tonnes (Mt) for August 2023, consistent with the August 2022 throughput. The Port...

Thessaloniki, Gdańsk ports to explore synergies

Thessaloniki Port Authority S.A is expanding its role as a port of international importance through a new cooperation with the Port of Gdańsk Authority...

Hapag-Lloyd CEO: Counteroffer for HHLA would not be in our interest

Hapag-Lloyd CEO Rolf Habben Jansen said on Thursday that it would not be in the container shipper’s interest to make an offer for HHLA...

MSC offers to buy stake in Hamburg port operator

MSC, the world’s biggest container shipping company, is offering to buy almost half of the main operator of Hamburg port, in a deal that...