April 28, 2006

Russia's March wheat exports rises 15 percent on-year

Russia's wheat exports amounted to 658,800 tonnes in March, almost doubling on the month and rising 15.3 percent compared to Mar 2005, according to official customs statistics.

Egypt remains the major destination of Russian wheat, accounting for 223,100 tonnes, followed by Pakistan with 121,500 tonnes, Azerbaijan with 87,800 tonnes, the United Arab Emirates with 49,800 tonnes and Georgia with 39,500 tonnes.

Wheat was exported last month at an average price of US$124/tonne.

During the first nine months of the 2005-06 marketing year (July-June), Russia exported around 9 million tonnes of wheat, or 70 percent more than in July-March of 2004-05. Russian wheat exports are at record-high levels, exceeding volumes exported during the same period of 2002-03, the season when Russia's wheat exports hit a record-high level of 14.3 million tonnes.

Wheat makes up the majority of Russia's grain exports. Russia's 2005-06 exports are expected to exceed 10 million tonnes, up from 7.95 million tonnes in 2004-05.