February 18, 2015


Russia to fulfil one million tonnes of undelivered wheat exports



Russia is still obligated to deliver one million tonnes of wheat which were signed for before the government imposed export restrictions on the grain, Reuters reported.


Arkady Zlochevsky, the head of the Grain Union, the farmers' lobby, lamented about the challenges exporters faced including an export tax on wheat. This measure, along with current restrictions, was apparently implemented by the Russian government to stabilise wheat prices following the decline of the rouble.


In the first 11 days of February, wheat exports had slumped significantly to 87,000 tonnes, Zlochevsky added.


"The risks are so unpredictable now that exporters are afraid to sign contracts. When you sign a contract now, you cannot guarantee that you will be allowed to ship this volume out of the country."


According to Zlochevsky, exporters had so far fulfilled two million tonnes of wheat deliveries in January, with a leftover of one million tonnes still undelivered.


Currently, the biggest importer of Russian wheat are Turkey, Egypt and Iran.

Video >

Follow Us