Grain Highlights 02.01.2023

02 Jan, 2023
Grain Highlights 02.01.2023
From 01.01.2023, the Indonesian government is changing the palm oil export regime in order to satisfy the domestic market at lower prices. Until now, the domestic sales/exports rule was 1/8, but in January the ratio will be 1/6.

- According to Rosstat data, the production of oil crops in Russia reached a new record of 25.65 million tons in 2022, which exceeded the old record of 2021 by 10.8%. Sunseed production was 15.342 million tons (-1.6%), soybean production was 5.751 million. tons (+21.1%) and rapeseed production reached 4.555 million tons (+62.9%). In 2022/23, sunseed oil production in Russia could reach a record high of 6 million tons (5.9 current record from 2019/20), and sunseed oil exports could reach 4 million tons (3.85).

- During the week of January 11-17, the export tax on Russian wheat will be 4,766.3 rubles/ton (4,160.9 a week earlier). The export tax on barley will be 3,870.6 rubles/ton (3,420.4) and the export tax on corn will be 1,289.4 rubles/ton (692.6).

- During the period 01.07 - 31.12.2022, 22,613 million tons of grain were exported from Ukraine (32,119 a year earlier), including 4,731 million tons in December (6,103). 8.382 million tons of wheat (1.612 in December), 1.623 million tons of barley (156,000) and 12.523 million tons of corn (2.95) were exported.

- In November soybean exports from Ukraine reached 385,000 tons (+79% compared to October), which is the highest level since January 2020. Deliveries to the EU were 202,000 tons (+70%) and to Turkey 123,000 tons (+100 %). In the first three months of the season, exports were 849,000 tonnes (+100% compared to 2021/22).

- According to data from APC - Inform, in the first 5 months of 2022/23, the export of barley from Ukraine reached almost 1.5 million tons (-71% compared to 2021/22). The largest recipients of grain were Romania, Spain, Turkey in total with over 1 million tons. According to the optimistic forecast, barley exports should reach 2.4 million tons throughout the season.

- According to summary from an interview of processors, 5.17 million tons of soybeans were processed in November in the United States (5.35 in October and 5.18 in November 2021).

- The harvesting campaign of wheat in Brazil is over. According to Conab data, wheat production reached 9.5 million tons (+24% compared to 2021). In the states of Paraná and Rio Grande de Sul (produce 86% of the total production in the country), harvested wheat was 3.5 million tons.

- The Government of India has extended the authorization to import vegetable oils (palm, soya and sunflower) until March 2024 at reduced taxes. In mid-2021, authorities reduced import taxes due to high food prices. Now the import tax on crude palm oil in India is 5.5% (35.75% by mid-2021).

- According to data from the Statistical Institute of Turkey, the grain production in the country was 38.7 million tons in 2022 (+21.3% compared to 2021), including wheat production of 19.8 million tons (+11.9%), barley production of 8.5 million tons (+47.8%) and corn production of 8.5 million tons (+25.6%).