Grain Highlights 05.04.2024

As of 04.04.2024, 35,600 hectares of sunseed have been sown in Ukraine, which is less than 1% of the planned areas, which are expected to reach 5.288 million hectares.

- Starting from the week of 10.04.2024, the export tax on Russian wheat will be 3,236.1 rubles/ton (-2.6% compared to the previous week). The export tax on barley will be 667.9 rubles/ton (1,002.3), and the export tax on corn will be 86 rubles/ton (69.9).

- In 2023, Russia delivered 1.6 million tons of wheat to Pakistan (1 in 2022).

- During the period 01.07.2023 – 05.04.2024, Ukraine exported 36.028 million tons of grain (38.452 million tons a year earlier), including 1.168 million tons in April (476,000). Wheat exports amounted to 14.228 million tons (13.17), barley exports reached 1.973 million tons (2.285), and corn exports were 19.533 million tons (22.676).

- As of 04.04.2024, sunseed has been sown on 35,600 hectares in Ukraine, which is less than 1% of the planned area of 5.288 million hectares. Soybeans have been sown on 1,800 hectares (1.99 million hectares), spring grain crops on 852,100 hectares (5.601 million hectares), spring wheat on 118,300 hectares (246,100), and spring barley on 543,200 hectares (818,000).

- According to Oil World data, in February, sunseed oil imports to Turkey reached 128,000 tons (69,000 in January), and soymeal imports were 218,000 tons (148,000), reaching record levels. The main suppliers of oil are Ukraine with 78,000 tons, Russia with 39,000 tons, Romania with 6,000 tons, and for meal, Russia with 108,000 tons, Ukraine with 101,000 tons, Romania with 6,000 tons, and Bulgaria with 3,000 tons. Sunseed imports in February were 25,000 tons (11,000 in January), and from September to February, they reached 134,000 tons (534,000 a year earlier). Sunseed oil imports reached 491,000 tons (588,000), and sunseed meal imports totalled 573,000 tons (422,000). Sunseed oil exports from Turkey in February were 67,000 tons (49,000), including 15,000 tons to Ethiopia, and since the beginning of the season, they reached 379,000 tons (351,000).

- According to Oil World data, soybean processing in the United States reached 5.28 million tons in February (5.3 in January and 4.81 in February 2023). Soyoil consumption increased by 6% compared to January, reaching the level of October 2023.

- According to Oil World data, palm oil exports from Indonesia reached 1.59 million tons in February (2.31 in January and 2.39 in February 2023).

- At the end of March, palm oil reserves in Malaysia decreased to the lowest level in the last 8 months, reaching 1.79 million tons (-6.65% compared to February). In March, exports were 1.23 million tons (+21%), and production was 1.38 million tons (+9.76%).

- Tunisia has purchased 75,000 tons of soft wheat at prices ranging from 233.25 to 239.90 USD/ton C&F and 50,000 tons of hard wheat at prices ranging from 383.93 to 384.48 USD/ton C&F with delivery in May.