Expert Chaslau Koniukh
  • Biography
  • Analytics
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Market terminology
  • Stock Market
  • World exchanges
Russian wheat

Russian wheat could become one of the main export products

12.01.2021
2 min read

Russian wheat increases export turnover

Russian wheat has every chance to become the country’s main export product this year. The figures show this: during the week, the cost of grain from Russia rose to 13.3 thousand rubles per ton, which is more than oil, which is currently experiencing bad times.
Against the background of the fact that the price of Brent oil fell to a record low of $25.5 per barrel, wheat continues to rise in price. Exchanges in Paris and Chicago show the growth of the price by about 6.5-7%. The same situation is observed on Russian trading floors. Interest is linked to the fact that a large number of countries are planning to buy grain to hedge against border closures and restrictions due to the pandemic. The hype is fuelled by the ban on flour, rice, wheat and cereal products, which has been introduced in a number of countries.
According to the information from the analytical center, which deals with issues of agribusiness, last year Russia exported about 23% of the total world wheat market. Experts believe that this year grain sales will increase. Due to the fall of the ruble, it has become more profitable for importers to buy Russian products, even taking into account that agrarians have raised prices. The producers also benefited from the difficult situation in Ukraine, the main competitor. The latter is planning to reduce supplies to the world market this year, as adverse weather conditions do not allow exporting large volumes. According to the forecasts of Ukrainian specialists, the number of crops will decrease by about 10%, which is about 7.7 million tons. The volumes of winter wheat will decrease by 12.5% as compared to the previous period. This situation gives Russia an opportunity to increase export of grain crops. So far, Rusagrotrans plans to sell 3.6 million tons of wheat to other countries.

Russian wheat

Despite the good news in the agricultural sector, increased grain exports will not be able to compensate for losses incurred by the country as a result of a sharp drop in oil prices.According to the FCS data, last year the Russian Federation supplied the world market with 31.8 million tons of wheat and meslin, thanks to which the budget received 6.4 billion dollars. For comparison, oil has been sold for 121.4 billion dollars.
However, this does not mean that we should not pay attention to the development of food export; it still remains one of the main things for the country. While the defense industry earned $13 billion from foreign supplies in 2019, agro-industrial enterprises brought in $25 billion.

Share
0
Previous Post ZTE Corporation increases investment in research and development Next Post Why mechanical trading systems should be used to trade in the market

You Might Also Like

household debt
Economic
US household debt increases: FRB reporting results
14.09.2020
Google Alphabet
Economic
New Google Alphabet features for advertisers and users
26.06.2020
Authorities of Venezuela
Economic
The authorities of Venezuela are planning to make payments in yuan
24.10.2020
Rosneft Trading
Economic
Rosneft Trading, a subsidiary of Rosneft, is on the SDN sanctions list
23.11.2020
Ministry of Finance and Central Bank
Economic
The Ministry of Finance and the Central Bank announced the withdrawal of the country’s main regulator from Sberbank capital
13.12.2020
IMF Outlook
Economic
IMF forecast: what is expecting the world economy next year
16.06.2020

Recent Posts

  • 1Oracle Inc
    American corporation Oracle Inc: business scope and product overview
    15.01.2021
  • 2mechanical trading systems
    Why mechanical trading systems should be used to trade in the market
    13.01.2021
  • 3Russian wheat
    Russian wheat could become one of the main export products
    12.01.2021
  • 4company ZTE
    ZTE Corporation increases investment in research and development
    11.01.2021
  • 5The Nasdaq Stock Exchange
    The Nasdaq Stock Exchange is creating its platform on a block list
    10.01.2021

Popular Posts

  • Growth of trade turnover between Russia and Algeria: advantages of cooperation 0
  • What price forecast for cryptocurrencies: opinion of Russian analysts 0
  • Risks of investing in airline stocks: opinion of ICB and analyst Chaslau Koniukh 0
  • When it’s worth buying bitcoin, when it’s better to wait: the look of Morgan Stanley analysts 0

Social

Editor's Picks

Chaslau Koniukh

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Spokesperson
17.08.2020
Expert Chaslau Koniukh

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Spokesperson
18.06.2020
expert Chaslau Koniukh

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Spokesperson
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Spokesperson
16.05.2020

Latest Posts

Oracle Inc
American corporation Oracle Inc: business scope and product overview
15.01.2021
mechanical trading systems
Why mechanical trading systems should be used to trade in the market
13.01.2021
Russian wheat
Russian wheat could become one of the main export products
12.01.2021

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh is an international financial expert, a professional investor, an experienced analyst and a practicing trader. He advises European entrepreneurs; holds lectures on investment topics; is the author of scientific articles on work at the stock market.

Recent Posts

  • 1Oracle Inc
    American corporation Oracle Inc: business scope and product overview
    15.01.2021
  • 2mechanical trading systems
    Why mechanical trading systems should be used to trade in the market
    13.01.2021
  • 3Russian wheat
    Russian wheat could become one of the main export products
    12.01.2021
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Youtube
  • Instagram
  • Biography

Expert Chaslau Koniukh: brief biography and path of formation

Let’s Socialize