According to the RF Federal Customs Service statistics, during January-May Russia exported more than 9.9 mn tons of wheat and meslin, down 13.1% year-on-year. In terms of value, grain export grew by 3.1% up to $2.6 bn.
As of June 2, a flexible export duty on wheat, corn and barley is in force in Russia.
The RF Ministry of Agriculture expects that the flexible export duty will help market players to plan their revenues more accurately and in a longer term. This policy is also aimed at reducing the impact of the fluctuations in the global market on the domestic market.
Wheat import into Russia during January-May 2021 increased by 42.6% up to 72 thousand tons. Corn import, on the contrary, declined by 28.3% down to 27.6 thousand tons. Barley import made 5.8 thousand tons was down 44.8% year-on-year.
In terms of value, wheat import was up 77.8% to $28.1 mn. Corn import was down 11.1% to $97.9 mn, barley import declined by 26.1% down to $1.7 mn.
In May 2021 alone, wheat and meslin export made 457.2 thousand tons, down 11.1% year-on-year and down 42.8% month-on-month. In terms of value, it grew by 28% year-on-year and decreased by 39.4% month-on-month to make $139.8 mn.
Wheat import in May made 14.1 thousand tons, up 38.2% year-on-year and up 10.2% month-on-month. Value-wise, wheat import surged by 65.6% year-on-year and increased by 8.2% month-on-month to $5.3 mn.
Corn import dropped by 86.4% year-on-year and by 88% month-on-month making 0.9 thousand tons. In terms of value, it was up 8.3% year-on-year, but down 94.5% month-on-month to make $1.3 mn.
Barley import made 1.1 thousand tons, up 37.5% year-on-year and down 73.8% month-on-month, worth $200 thousand, up 2-fold year-on-year, but down 80% month-on-month.