Russia reaches record wheat exports for last season
Between July the first 2011 and April 15 this year Russia has exported 18.5 million tonnes of wheat, a record amount. This broke the previous record of 18.275 million tonnes during the 2009-10 season. The figures come from the Russian Institute for Agricultural Market Studies.
By June 30, 2012, the end of the agricultural year, Russia is expected to export over 20 million tonnes of wheat. Major importers of Russian wheat are Turkey and countries in North Africa and the Middle East.
Total grain exports are expected to reach 25 million tonnes if not more. 25 million tonnes would also be an export record. Russia is now the second largest grain exporter in the world. The largest is the U.S. In Chicago and New York Black Sea grain futures will be launched and this may promote more exports. For more see this article.