Grain Highlights 11.01.2023

In 2023, authorities in Indonesia approved the replanting of 53,000 hectares with oil palm plantations owned by small farmers supported by a subsidy program.

- According to data from Rusagrotrans in December 2023, Russia exported 5.1 million tons of grain, including 3.94 million tons of wheat (compared to 4.3 million in December 2022). Wheat exports in January are expected to be between 3.8 and 4 million tons. From January 1 to January 9, Russia exported 1.5 million tons of grain, which is 155,000 tons more than the previous year.

- As of December 1, 2023, grain reserves (excluding corn) in agricultural organizations in Russia were 35.5 million tons (2% lower than the previous year). Corn reserves were 4 million tons (23.5% higher).

- Conab has lowered its forecast for the soybean production in Brazil for 2023/24 by 3.1% to 155.3 million tons. The 2022/23 production was 154.6 million tons. During the season, soybean exports are expected to reach 98.45 million tons (a decrease of 3.2%). The processing of soy in the country remains unchanged at 54.3 million tons, soymeal production will be 40.6 million tons, and soyoil production are expected at 10.7 million tons. The first corn production will be 24.38 million tons (a decrease of 3.7%), and the second production is projected to reach 91.2 million tons. Corn exports will reach 35 million tons (38).

- According to Oil World, corn exports from Brazil in 2023 increased to 55.89 million tons compared to 43.44 million tons in 2022. From October to December, exports were 21.92 million tons (compared to 19.11 million), including 8.24 million tons to China (1.17 million), and 2.06 million tons to Vietnam (1.34 million). Throughout 2023, 16.16 million tons of Brazilian corn were exported to China (1.2 million), and 3.06 million tons to the EU (8.24 million).

- In 2023, authorities in Indonesia approved the replanting of 53,000 hectares with oil palm plantations owned by small farmers supported by a subsidy program. In 2022, 30,700 hectares of plantations were replanted. The government has set an ambitious target to renew 180,000 hectares of palms annually to increase yields and production. Another goal of the government is to prevent further deforestation. The plantation replacement program started in 2016, with the aim of renewing 2.5 million hectares by 2025.

- At the wheat tender in Algeria, an unspecified quantity of goods was purchased at prices ranging from 450 to 465 USD/ton C&F, with delivery scheduled for February-March.

- Tunisia held a tender to purchase 50,000 tons of durum wheat and 50,000 tons of feed barley with delivery in February. The proposed prices for wheat are 446.97 to 448.73 USD/ton C&F, and for barley, they range between 241.73 to 242.73 USD/ton C&F.

- Lebanon has bought 30,000 tons of Ukrainian wheat with 11.5% protein content and a price of 253.5 USD/ton C&F.