EU outperforms Russia in wheat exports

The European Union outperforms Russia as the world's largest wheat exporter in the 2019/20 season. This shows the WASDE report published on Friday by the US Department of Agriculture. Russia exported 34.5 million tons of grain in the 2019/20 season (1.7. - 30.6.), The EU itself 38.0 million tons, according to the USDA. Russia and the EU have yet to release final official data for the season. If confirmed by official data, EU exports of 38 million tons would be a record for the bloc after a good harvest in 2019.
Russia intends to use the grain export quota mechanism permanently, but the first half of the 2020/21 season - July to December - is expected to be quota-free. The state's grain export quota has been criticized by leading market analysts as an obstacle to the long-term development of the free market.
Russia may again be the world leader in wheat exports in 2020/21 due to this year's big harvest, but it could improve its market share if the long-term risks of government intervention were reduced, IKAR said.

Hansa Terminhandel GmbH
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