Grain Highlights 19.08.2024

On 16.08.2024, the EU introduced a temporary tariff of 36.4% on imports of biodiesel and certain types of processed vegetable oils from China.

- As of 14.08.2024, Russia has harvested 73.5 million tons of grain, which is 8.2 million tons less than in 2023. A total of 46.9% of the planted areas have been harvested. The wheat production stands at 59.8 million tons from 57.5% of the areas, while 8.8 million tons of barley have been harvested from 40.5% of the areas.

- In Ukraine, the traditional memorandum between the Ministry of Agriculture and grain exporters has been signed. It specifies a maximum wheat export limit of 15.2 million tons for the 2024/25 season.

- Between 01.07 – 19.08.2024, Ukraine exported 5.788 million tons of grain, compared to 3.607 million tons during the same period the previous year. This includes 2.086 million tons in August, compared to 1.333 million tons in the previous year. The exports include 2.777 million tons of wheat (compared to 1.231 million tons last year), 907,000 tons of barley (compared to 326,000 tons), and 2.084 million tons of corn (compared to 524,000 tons).

- As of 19.08.2024, Belarus has harvested 7.596 million tons of grain and oilseed crops, including 6.254 million tons of grain from 95.3% of the planted areas and 1.072 million tons of rapeseed from 92.1% of the areas.

- On 16.08.2024, the EU introduced a temporary tariff on imports of biodiesel and certain processed vegetable oils from China, set at 36.4%. For 40 companies that cooperated in the investigation, the tariff is 23.7%. Only for the companies EcoCeres Group and Zhuoyue Group, the tariff is 12.8% and 25.4%, respectively.

- According to FranceAgriMer data, as of 12.08.2024, 98% of soft wheat fields in France have been harvested, yielding 26.3 million tons of grain, which is 24% less than last year.

- The DRV forecasts that Germany's wheat production in 2024/25 will be 18.76 million tons, 13% less than in 2023/24. The total grain production is expected to be 39.11 million tons, an 8% decrease, marking the lowest level since 2018.

- According to the Buenos Aires Grain Exchange, as of 14.08.2024, 97.8% of the corn areas in Argentina have been harvested, yielding 45.56 million tons of grain with an average yield of 6.49 tons per hectare. The total production is projected to be 46.5 million tons.

- The Malaysian government has announced a halt to the creation of new palm oil plantations in forested areas to preserve the forests. Authorities have stated that 80% of the produced palm oil is intended for export, with the main goal being the certification of all producers, including small-scale ones, according to ESG standards.