Located partly in Eastern Europe and partly in northern Asia, Russia is one of the biggest grain producers and exporters of the world. The country harvests bulk volumes of grains every year and this has helped Russia establish itself as a reliable grain supplier in the global market.
Talking particularly of wheat, Russia is the largest wheat exporter in the world, and every year, the country exports bulk wheat to countries dependent upon it for their domestic needs. Russia’s significance in the global wheat market can be gauged from the fact that last month itself, the nation exported 4.54 million tonnes of wheat, 50 per cent higher than the volume exported back in July 2022.
Facts and Figures
A look at the data reveal that Russia exported 5.68 million tonnes of grains in July 2023, 60 per cent higher than the volume of last year, with wheat itself corresponding to 4.54 million tonnes of the total exports.
Major Export Destinations for Russia
The main export destinations for Russian grain during this period have been Saudi Arabia, Turkey, Egypt and Israel.
While Saudi Arabia imported 578,000 tonnes of grains during this period, other countries imported 518,000 tonnes, 467,000 tonnes and 345,000 tonnes respectively.
Talking of developing countries, Bangladesh, Tanzania and Sudan imported grains from the Russian nation with import volumes ranging from 222,000 tonnes to 94,000 tonnes and 68,000 tonnes respectively.
Official’s Statements
An official with knowledge of the matter commented that Russia exported wheat to a total of 33 countries in the month of July 2023, seven countries more than that of last year.
This highlights Russia’s immense potential to supply grains to the global market. Estimates by the Russian Grain Union suggest the same. According to the estimates of the union, Russia has the potential to export 55-57 million tonnes of grain every year. It is because of these reasons only that Russian president, Mr. Vladimir Putin keeps on assuring the world that there won’t be any grain crisis as such. In meetings and press conferences as well, the Russian president have been upfront to state that Russia has the potential to overtake Ukraine as the largest supplier of grain.
Assuring the African countries, Mr. Putin has already promised six countries on the continent, namely Burkina Faso, Zimbabwe, Mali, Somalia, the Central African Republic (CAR) and Eritrea of free grain shipments, during the Africa-Russia summit last week. However, Secretary General of the the UN, Mr. António Guterres believe that such a move will only cause further rise in prices.
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