Russia is not missing the opportunity to realize its export potential 24 January, 2018 at 11:01

At the end of 2017, the Russian State Statistics Service published preliminary data on grain crops and yields in the country. According to its information, the 2017 crop of cereals and pulses totaled 134.13 MMT in net weight and 140.98 MMT in bunker weight.

Other important changes in the publication of the Russian State Statistics Service include updated figures for cereal plantings, which were reduced for all of the key grains.

Russia found itself in quite good position with its bumper crop. According to preliminary data of market participants, in the first half of the 2017/18 season Russia exported 33% more than at the same time a year ago.

In view of an upward trend in global consumption, demand for wheat is only strengthening. The factor of weather also favored Russian wheat: its mild pattern did not constrain navigation in the winter months, when grain shipments from Russia traditionally decrease by half. Although its exports have already started falling now, they are holding peak positions anyway, reports UkrAgroConsult.

Full version of the article is available to subscribers for weekly market report “Black Sea Grain” and “Online market review” by UkrAgroConsult.

Sych Maryna – grain market analyst at "UkrAgroConsult"