Grain Highlights 21.03.2022

In March, wheat exports from Russia will reach 2 million tons, according to ICAR. Over the period of 15.02 - 30.06.2022, the export quota reaches 11 million tons.

- Over the week of March 14-20, 288,500 tons of grain were exported from the Russian port of Novorossiysk, which is 10% more than the previous week. Wheat exports were 257,100 tons, barley exports reached 26,100 tons and export of peas was 5,200 tons. The largest customers for wheat were Egypt with 86,000 tons, Iran with 66,000 tons, Turkey with 45,200 tons and Yemen with 35,000 tons.

- According to the Customs Service of Ukraine, over the period July - February, the country exported 18.1 million tons of wheat. Wheat exports for the entire 2021/22 are projected at 18.3 million tons. The ending wheat stocks in the country will reach 5.9 million tons (+280% compared to 2020/21).

- Ukraine has resumed corn exports across its western border. The country can export up to 600,000 tons of grain per month through these canals, which is only 10-15% of the capacity of seaports.

- The Argentine government has increased the quota for wheat exports from the country in 2022/23 from 8 million tons to 10 million tons. For 2021/22, the quota was 14.5 million tons.

- Authorities in Argentina have increased export taxes on soyoil and soymeal from 31% to 33%. One week earlier, the country had suspended exports of these products in order to enforce the new export taxes.

- According to the latest APS forecast, the soybean production in Paraguay will not exceed 3 million tons in 2021/22, which will be the lowest result in history. The initial estimates were for a production of 10 million tons.

- The Malaysian Palm Oil Council extended the application of the export tax of 8% in April and in March.

- India concludes negotiations on wheat exports to Egypt. These are also negotiations with China and Turkey. In the first 10 months of 2021/22, 6 million tons of wheat were exported from the country (1.38 a year earlier).

- Authorities in Egypt have set aside $2.3 billion to buy 6 million tons of wheat from local farmers. The campaign starts in April and will last 3-4 months. The amount will be enough to meet domestic consumption for 7 - 8 months.

- Egypt's state-owned company GASC has announced a tender for the purchase of 30,000 tons of soyoil and 10,000 tons of sunseed oil with delivery in May. A tender has also been announced for the purchase of 3,000 tons of soyoil and 1,000 tons of domestic sunseed oil, delivered in May.

- Turkey has announced a new tender for the purchase of 210,000 tons of wheat with delivery in April. On March 17, 2022, the country purchased 270,000 tons of wheat.

- Jordan's grain stocks are sufficient to meet domestic consumption in the next year. According to the IGC forecast, wheat imports in the country will be 1.3 million tons in 2021/22 (1.2 in 2020/21).