The Sovecon company, which specializes in studying agricultural markets, lowered its forecast for wheat exports from Russia in 2022-2023 agricultural year (July 1, 2022 – June 30, 2023) by 0.1 million tons, to 44.1 million tons. This was said in a statement.
Sovecon lowered its forecast for Russian wheat exports for the 2022-2023 agricultural year by 0.1 million tons, to 44.1 million tons. This is the first decrease in the assessment of wheat exports in the current season,” the report says.
As experts explained, the forecast was revised due to a markedly lower February exports compared to initial expectations against the backdrop of a long period of inclement weather. February wheat exports are currently estimated at 2.9 million tons against 3.8 million tons a month ago. “In the remaining months of the season, exports will continue to go at a record high pace. But at this stage, we do not expect a sharp increase in supplies, ”they say in Sovecon.
According to experts, Russian wheat exports from July 2022 to February 2023 will amount to 29.3 million tons, which is 9.7% more than the previous agricultural year, including deliveries from March to June 2023 will amount to a record high 14.8 million tons .
Full version on the Sovecon website lowered the forecast for wheat exports to 44.1 million tons
