During the period from July 1 to 20, Russia exported 2.825 million tons of grain, a decrease of 31.4% compared to 4.115 million tons in 2023/24. This included 2.228 million tons of wheat (-23.8%), 404,000 tons of barley (-48%), and 192,000 tons of corn.
According to a forecast by IKAR, in 2024/25, Russia will reduce its flour exports to 550,000 tons, which is a decrease of about 50% compared to 2023/24, when it was 1.1 million tons.
On July 18, 2024, the Egyptian state company GACS purchased 20,000 tons of sunseed oil at a price of 1,013.99 USD/ton with delivery from September 1 to 15.
According to a SovEcon forecast, Russia will export 2.8 million tons of wheat in July, compared to 4.5 million tons in July 2023 and an average of 3 million tons for the month.
IKAR has raised its forecast for Russia's wheat production in 2024 from 82 million tons to 83.2 million tons. The total grain production is forecasted at 128 million tons.
