Grain Highlights 05.07.2024

According to data from the Ministry of Agriculture of Ukraine as of 04.07.2024, 3.361 million tons of grain have been harvested from 967,200 hectares with an average yield of 3.48 tons per hectare.

- In 2023/24, Russia exported 8.9 million tons of grain to Turkey (12.6 in 2022/23). After Turkey, the main buyer of Russian grain is Egypt with 8.7 million tons (8.1), Iran with 7 million tons (6.4), Saudi Arabia with 4.5 million tons (3.2), and Bangladesh with 3.8 million tons (1.6). According to Rusagrotarans, 8.6 million tons of wheat were exported to Egypt (8.1), matching the record from 2017/18. Turkey follows with 7 million tons (9.2).

- According to data from the Ministry of Agriculture of Ukraine as of 04.07.2024, 3.361 million tons of grain have been harvested from 967,200 hectares with an average yield of 3.48 tons/hectare. Harvested wheat is 1.629 million tons with a yield of 3.38 tons/hectare. Harvested barley reaches 1.566 million tons with a yield of 3.89 tons/hectare. Harvested rapeseed is 186,900 tons with a yield of 2.86 tons/hectare.

- During the week of July 10-16, the export tax on Russian wheat will be 1,701.3 rubles/ton (1,818.2 a week earlier), while the export tax on corn and barley remains zero.

- In June, Ukraine exported 412,000 tons of sunseed oil, which is 7% less than in May, but a record achievement for this month of the year. 105,000 tons of oil were sent to the EU, the lowest quantity since May 2023. China imported 214,000 tons (+3%), the highest since January 2023. From September to June, exports amounted to 4.2 million tons (+21%), the second highest after 2019/20's 4.5 million tons. The EU's share in exports is 32%.

- In 2023/24, rapeseed imports to Bulgaria reached 182,000 tons, 90% more than in 2022/23, with a significant portion coming from Romania and Moldova. The increase is due to the heightened processing of the crop in Bulgaria.

- According to FranceAgriMer data as of 01.07.2024, 1% of wheat areas in France have been harvested (8% last year and 5% average over the last five years). 58% of soft wheat crops are in good and excellent condition (60% a week earlier and 81% a year earlier). Arvalis predicts yields will be 11% below the average of the last 10 years and the lowest since 2016. The total grain production will reach 29-30 million tons (35).

- In June, palm oil imports to India reached 788,000 tons, the highest level since December. In July, imports will be 850,000 tons. Sunseed oil deliveries were 467,000 tons (+14% from May), a record achievement. Soyoil imports were 273,000 tons (-16%). Total oil deliveries in June were 1.53 million tons (+2%).

- Tunisia purchased 50,000 tons of durum wheat at prices of 229.67-231.49 USD/ton C&F and 100,000 tons of soft wheat at prices of 244.77-248.50 USD/ton C&F.