Russia's wheat exports take an upturn

Russian wheat exports to non-CIS countries rose 27% in the first four months of this year, with revenues up an even stronger 34% on-year thanks to higher prices, according to customs data.

Wheat exports to countries outside the Commonwealth of Independent States rose to 5.73 million tonnes in the first four months of this year from 4.51 million a year earlier. Revenues earned from these sales rose to US$997.5 million.

Total wheat export volumes in January-April, including the CIS, rose 11% to 5.81 million tonnes. Revenues rose to US$1.01 billion from US$867.8 million.

As for imports, Russian poultry purchases accounted for the most significant change. First-quarter poultry imports declined 68% in volume terms to 70,900 tonnes. Their value fell 57% to US$103.4 million.

Russia is rapidly expanding poultry meat production in order to achieve its goal of reaching self-sufficiency within the next three years.