Russia Effectively Boosts Wheat Exports To Saudi Arabia in 2021/22

Foreign media, January 24: Russia exported 18.2 million tons of wheat (including exports to customs union countries) in the first five months of the 2021/22 season, from July to November, compared to the same period last year. down 13%. Iran, Turkey, Egypt, Nigeria and Azerbaijan remain the main importers of Russian wheat with a 66 percent share. In addition, Russia has significantly increased its wheat exports to Kazakhstan and Saudi Arabia.

From July to November, Russia's wheat exports to Kazakhstan increased by 90% year-on-year to 568,900 tons. APK-Inform estimates Kazakhstan’s wheat production in 2021 at 12.9 million tonnes, down 10% year-on-year.

From July to November, Russia exported 594,500 tons of wheat to Saudi Arabia, a 10-fold increase year-on-year and five times the 123,500 tons exported in 2020/21. The USDA forecasts Saudi wheat imports in 2021/22 at 3.5 million tonnes, up 24% year-on-year. Opening stocks for 2021/22 are 2.7 million tonnes, down 13% year-on-year, while consumption is forecast at 3.6 million tonnes, up 3% year-on-year.

So far, Russian wheat in 2021/22 has accounted for 81% of Kazakhstan's wheat import potential and 17% of Saudi Arabia's import potential.