Exports of russian wheat have significantly decreased

In April, russian wheat exports fell to a multi-month low.

As of April 25, the volume of export sales of russian wheat decreased to 1.7 million tons against 2.4 million tons a month earlier. This is the lowest volume since November 2022. Sales began to decline against the background of low competitiveness of grain from russian federation on the world market. This was reported by SovEkon analysts.

Against the background of reduced demand, the volume of russian grain exports fell to 4.2 million tons in April against 4.5 million tons in March. One of the reasons for the loss of competitiveness of grain from the russian Federation is the unwillingness of russian exporters to sell wheat at a price lower than $275 FOB.

Previously, the Ministry of Agriculture of russia recommended to exporters not to sell grain below this mark. So, as of April 24, the price per ton of russian wheat was $6 more expensive than French wheat. At the same time, a month earlier, a ton of wheat from russian federation cost $2 cheaper.