Grain Highlights 01.04.2024

IGC predicts that in 2024/25, global sunseed production will be 58.5 million tons, which represents an increase of 0.6 million tons compared to the production in 2022/23.

- In March, 2.273 million tons of wheat were exported from the Russian port of Novorossiysk (+53,100 compared to February and +88,500 compared to March 2023). Wheat exports to Egypt amounted to 863,100 tons. Wheat exports to Bangladesh were 160,800 tons, and wheat exports to Saudi Arabia reached 140,800 tons.

- During the period from July 01, 2023, to April 01, 2024, Ukraine exported 34.862 million tons of grain (38.047 million tons a year earlier), including 13.842 million tons of wheat (13.012 million tons), 1.962 million tons of barley (2.276 million tons), and 18.765 million tons of corn (22.439 million tons).

- In the first half of 2023/24, rapeseed imports to Germany reached 3.5 million tons (2.6 million tons a year earlier). Deliveries from Ukraine amounted to 995,600 tons, from Romania 696,600 tons, and from Poland 523,200 tons.

- Authorities in Egypt plan to purchase 3.5 million tons of wheat from local farmers in 2024 (3.8 million tons in 2023). The price announced by the government is 224.7 USD/ton. In 2023, wheat imports to Egypt reached 11 million tons (+14.5% compared to 2022).

- Saudi Arabia has purchased 795,000 tons of wheat with 12.5% protein at a price of 256.4 USD/ton C&F. Purchases were made from the EU, the Black Sea region, North America, South America, and Australia.

- Jordan has announced a tender to purchase 100,000 – 120,000 tons of barley. The previous tender was canceled due to high prices.

- Oil World forecasts production of the world's ten major vegetable oils in 2023/24 to be 258.05 million tons (-1.7% compared to the previous estimate and 253.8 in 2022/23). World exports remain unchanged at 97.58 million tons (99.65) and consumption was at 259.14 million tons (+3.2%).

- IGC forecasts that in 2024/25, global sunseed production will reach 58.5 million tons (+0.6 compared to 2022/23). The production is expected to reach 17.4 million tons in Russia (17.6), 16.2 million tons in Ukraine (16.5), 10.5 million tons in the EU (10.2), 4.4 million tons in Argentina (4.0), 2.3 million tons in China (2.3), 1.8 million tons in Turkey (1.6), 1.3 million tons in Kazakhstan (1.2), and 1.1 million tons in the United States (1.0).