Grain Highlights 23.01.2024

23 Jan, 2024
Grain Highlights 23.01.2024
During the period from January 1 to January 21, grain exports from Russia reached 2.6 million tons, representing a decrease of 24.5% compared to the previous year.

- During the period from January 1 to January 21, grain exports from Russia reached 2.6 million tons (-24.5% compared to the previous year), including wheat exports of 2.1 million tons (-29%), corn exports of 265,000 tons (-32%), barley exports of 203,000 tons (-230%). The largest grain customer is Egypt with 448,000 tons, followed by Pakistan with 231,000 tons, Bangladesh with 213,000 tons, Turkey with 187,500 tons, Algeria with 135,500 tons, Saudi Arabia, Yemen, Mexico, Indonesia, Venezuela.

- In the first 4 months of 2023/24, exports of Ukrainian high-oleic sunseed oil reached 120,000 tons, which is 18% more than the same period in 2022/23. The largest customer is China with 21,000 tons, followed by Spain (20,000) and Romania (20,000).

- The Bulgarian government proposes to introduce quotas for the import of Ukrainian grain into the EU. After exceeding certain quantities, a tariff should be applied.

- According to data from the Canadian Grain Commission, from the beginning of the season until January 14, 2024, Canada exported 11.2 million tons of wheat, which is 1% less than the previous year. The export of soft wheat is 9.4 million tons, durum wheat exports reach 1.4 million tons, other varieties - 0.39 million tons. Barley exports are 0.9 million tons (-44%), corn exports totalled 0.5 million tons (-9%), export of oats were 0.8 million tons (+14%), canola exports reached 2.7 million tons (-32%) and soybean exports were 2.8 million tons (-1%).

- According to an estimate by the Rosario Grain Exchange, in 2023, the export of grains and oilseeds from Argentina was 55.9 million tons (-39% compared to the average level of the last five years). Corn exports were 23.5 million tons (-32%), wheat exports reached 2.8 million tons (-80%), soybean exports were 27 million tons (-29%), soy and sunseed meal exports of 18.9 million tons (-32%) and export of vegetable oils reachede 4.5 million tons (-15%).

- According to Oil World data, Bangladesh reduces soybean imports for the third consecutive year to 1.75 million tons in 2023 (-0.4 compared to 2022). The largest suppliers were Brazil with 820,000 tons, the United States with 626,000 tons, and South Africa with 296,000 tons. Soymeal imports reached the highest level in the last six years at 0.7 million tons (+0.1%).