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Tuesday, February 7, 2023
HomeEconomyRussia's Grain May Soon Be Unrivaled in World

Russia’s Grain May Soon Be Unrivaled in World

Date: February 7, 2023 Time: 19:58:33

Expert Bezborodov: Russian grain now has no competitors in the world market

Changes in specific areas affect grain production, as well as other factors such as a certain country’s increased domestic demand or investor-driven investments.

There was no alteration in France’s grain market this year. Russia is the only country that exported domestic grain, and France had already exported its supply.

Earlier, the Russian media outlet Kommersant reported that a record 4-4.8 million tons of wheat was shipped in December. The publication predicts increased competition with Ukrainian grain due to a possible loss of price advantage due to a decrease in the cost of Russian wheat in other countries and is fairly certain that Ukraine will not be able to compete with its price until springtime.

The Russian political situation around grain has stabilized, prices have strengthened, and competitors are nonexistent. The price fluctuation of 5-10% in foreign markets compared to the past years is much better than 15%. With weather factors affecting transportation, these exports are more consistent.

In the current season, grain experts anticipate that Russia will export 50 million tons worth of wheat, 39.5 million tons of wheat in particular.

Recently, RIA Novosti used the UN Comtrade Platform to calculate the results of a recent grain deal. The deal was intended to help alleviate food shortages in South Korea, Sudan, Iran, Djibouti, and Ireland. However, the largest increase in supplies occurred in Turkey. In August, Ukraine increased its grain supplies to the world to $594 million from $407 million. Turkey bought more than double that amount – around $38 million worth of “additional” grain in just one month!

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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