Russian wheat exports in July–September are estimated at 5.4 million tonnes, which is 53 per cent less than a year earlier. Wheat shipments from Ukraine are expected to total 2.6 million tonnes (-45 per cent). This is reported by Bloomberg, citing SovEcon.
According to Andriy Sizov, head of SovEcon, the market is currently anticipating a relatively rapid recovery in Black Sea shipments. At the same time, there is as yet no clear path to the normalisation of shipping. SovEcon believes that, under these conditions, the risk of prolonged disruptions to Black Sea wheat exports remains significantly underestimated by the market.
By way of comparison, during the same period a year earlier, Russia and Ukraine exported 16.2 million tonnes of wheat, whilst the average over the past five years stood at 18.2 million tonnes, according to ukragroconsult.
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