Rusagrotrans forecasts: Russian wheat exports in March will not break the record of 2023

In March this year, Russian wheat exports are expected to reach 4.4-4.5 million tons, showing growth compared to February, when exports amounted to 4.24 million tons. Nevertheless, the figure will remain below last March's record level of 4.73 million tons. According to analysts of the analytical center "Rusagrotrans", the decrease in the volume of grain shipments is due to the decline in supplies to the countries of the Eurasian Economic Union, in particular, to Kazakhstan and Kyrgyzstan.

Analysts paid special attention to the decline in export prices for Russian wheat with protein 12.5% with delivery in March-April, which fell by $13 to $202 per ton (FOB), reaching the lowest level since August 2020. Prices for fourth-class wheat in deep-water ports decreased to RUB12,800-12,900 per tonne (FOB) excluding VAT, while in shallow water prices remained stable at RUB11,600.

Experts predict that the sharp drop in FOB prices may lead to a weakening of the domestic wheat market in the European part of Russia in the near future.