In 2019/20 MY Turkey increases import of Russian wheat. In the first 5 months of the season, Russia supplied 4.2 mln tonnes of the grain, that is 22.4% of the total volume of Russian wheat export forecasted in 2019/20 MY. Russia shipped 2.5 mln tonnes of wheat to Turkey in the same period year ago, that was just 12% of the total export volume.
At the same time, Russia significantly decreased export of wheat to Egypt. Russia supplied 4 mln tonnes of the grain to the country in the first 5 months of 2018/19 MY, while exported volumes reached 3.2 mln tonnes in the same period this season. Thus, Egypt moved to the second place in the list of importers of Russian wheat while Turkey turned to be a leader.
“Lower export of wheat to Egypt happened due to high competition from Ukrainian and European grain. Some market participants suppose that high quality of Russian wheat was one of the reasons of declining export as sometimes exporters offered wheat with higher quality specifications than importers declared, at the same time buyers were not ready to pay price premium for better quality”, – explained Alina Timofeeva, the expert of APK-Inform.