Russia to remain global wheat export leader with 22% market share this marketing year - Rusagrotrans

MOSCOW. April 7 (Interfax) - Russia will remain the global wheat export leader with a 22% market share in the July 2024-June 2025 marketing year, despite a drop in shipments, the Rusagrotrans analytical center said.

"Wheat exports from Russia this season are projected at almost 40.8 million tonnes. Russia will remain the leader in supplies to the world market with about 22% of total volume wheat trade excluding flour, compared to just under 28% in the 2023/2024 season, when 55.5 million tonnes were exported," the center told Interfax.

The lower share is due to the higher supplies by the United States and Argentina, while supplies by Canada, Australia and a number of Eastern European countries remain close to last year's level.

The center said Russia exported approximately 36.2 million tonnes of wheat, including EAEU countries, in the July-March period, a drop of 4.7 million tonnes from the previous record export season but still above the five-year average of 34.1 million tonnes. The current figure ranks third after the 2023/2024 season when 36.65 million tonnes of wheat were exported during the same period.

Egypt leads by Russian wheat imports, shipping in 7.6 million tonnes, up 1.7 million tonnes from last season. Bangladesh is second with 2.55 million tonnes, down 0.4 million tonnes. Turkey only lifted restrictions on duty-free soft wheat imports on March 19 and imported 2.52 million tonnes.

Algeria imported 1.68 million tonnes, down from 1.75 million tonnes. Kenya imported a record 1.43 million tonnes for the first eight months of a season, compared with 1.32 million tonnes in the same period of the previous season.

Wheat exports to Iran resumed in March after a four month gap with 144,000 tonnes shipped.

Russia exported 1.84 million tonnes of wheat in March, down from 2.08 million tonnes in February.