Russia’s wheat exports saw rapid growth in March
Last year, Russia was the fifth biggest wheat exporter across the world. According to Russia import export data , over $5.5 billion worth of wheat was exported from Russia. Similar trend follows this year. Russia has received record wheat production during last year. Despite sanctions imposed by several countries like the United States, Canada and the European Union. The forecast this year shows that Russian wheat exports could hit a record 52.9 mmt during the 2023-2024 marketing year. In future, it might cross 86 mmt tonnes. The biggest market for Russia’s wheat exports were Turkey and Egypt where almost 56% of the overall Russia’s wheat export shipments were made. Among the emerging markets for Russian wheat exports were Bangladesh, Madagascar, Azerbaijan and Sudan. Aston JSC, RIF Trading House and Artis Agro were the top wheat export companies from Russia responsible for the maximum number of shipments last year. Whereas, among the leading wheat import companies we...