📉 Wheat Exports Decline: Russia Exporting Less in the Current Season

 

🔹 Russia's wheat exports in September 2024 decreased by 16%, amounting to 5.286 million tons, continuing the downward trend in shipments that began in July.

🔹 The geography of wheat exports has significantly narrowed — supplies were sent to 33 countries, compared to 52 a year earlier. The main markets are Egypt, Algeria, and Turkey.

🔹 The sharp reduction in export volumes also affected barley and corn. Tunisia and Iran are the leading buyers, but the volumes are much lower than in 2023.

 

In September 2024, Russia exported 5.76 million tons of major grain crops, which is 25% less compared to the same period last year, according to monitoring data from the Russian Grain Union (RGU). The trend of declining exports, which started in July 2024, continues.

Wheat export volumes fell by 16% to 5.286 million tons, which is 1 million tons less than a year earlier. Barley exports dropped to 340,000 tons compared to 1.104 million tons in September 2023. Corn exports also decreased, amounting to 133,000 tons, down from 285,400 tons in the same period last year. In addition, the variety of exported crops has significantly reduced from 29 to 8 types.

Another notable trend is the shrinking export geography. In September 2024, Russian wheat was exported to 33 countries, whereas a year ago, it was supplied to 52. Egypt became the largest buyer of Russian wheat in September, receiving 1.355 million tons of grain — 29% more than the previous year. Wheat exports to Algeria increased 2.8 times, reaching 453,000 tons. However, exports to Turkey fell to 305,000 tons from 651,000 tons in 2023, primarily due to the wheat import ban in Turkey. The shipments in September were carried out as part of transit.

Among the buyers of Russian barley, Tunisia leads, with shipments increasing 4.3 times to 114,000 tons. Saudi Arabia, the second-largest buyer of barley, reduced imports by 84% to 65,000 tons. As for corn exports, Iran was the largest buyer, purchasing 117,000 tons, but this was 52.2% less than in the previous season.

The reduction in grain export volumes and the shrinking diversity of exported crops reflect ongoing changes in Russia's agricultural sector, likely impacting global grain markets and the redistribution of trade flows.