Russian Grain Union: Grain Exports Dropped by 23% in December

 Russia exported approximately 2.5 million tons of grain from December 1 to 23, which is 23% less than during the same period last year, reports the Agrosearch.kz analytical center, citing data from the Russian Grain Union's monitoring.

 Wheat exports decreased by 9%, corn by 79%, and barley by 67%. Experts predict that total wheat exports for December will amount to 3.1 million tons compared to 3.6 million tons last year. Egypt became the main buyer of Russian wheat, increasing its purchases threefold. Bangladesh and Saudi Arabia also showed growth, while exports to Turkey fell by 72%. Mozambique, Tanzania, and Angola have emerged as new export destinations.

 The number of exporting companies decreased from 74 to 32, and the number of shipping ports fell from 24 to 20. The main volumes of transshipment were handled by the ports of Novorossiysk, although their figures dropped by 11%. Domestic wheat prices rose in southern regions but declined in the Volga and central parts of the country. On global markets, Russian wheat prices rose, narrowing the gap with European prices to $6 per ton. Farmers continue to hold back their grain, anticipating further price increases.