Grain Highlights 23.10.2024

23 Oct, 2024
Grain Highlights 23.10.2024
According to a forecast by FAS USDA, Saudi Arabia's wheat imports in 2024/25 are expected to reach 4.25 million tons (compared to 4.16 million tons in 2023/24).

- During the period from January to September, Russia's flour exports reached 920,000 tons, which is 30% more than the previous year's 720,000 tons.

- Export quotas for artificial fertilizers from Russia have been extended until May 31, 2025. The current quotas are valid until December 1, 2024. Under the new authorization, the fertilizer export quota is set at 19.2 million tons, including 11.2 million tons of nitrogen fertilizers and 8 million tons of compound fertilizers. Until December 1, 2024, the quota is 19.8 million tons, including 12.5 million tons of nitrogen fertilizers and 7.3 million tons of compound fertilizers.

- From July 1 to October 22, 2024, the EU exported 210,500 tons of sunseed oil, which is 16% less than the previous year. The largest buyers were India with 52,800 tons, the UK with 42,300 tons, the USA with 14,900 tons, and South Africa with 12,600 tons. Imports of sunseed oil during the period amounted to 588,800 tons (-18%).

- According to the forecast by the authorities in Kazakhstan, in 2024 the country's export potential is 12 million tons of grain, including 7 - 7.5 million tons of wheat, 1.4 million tons of barley, and 0.3 million tons of corn. In the new season, the grain production has reached a record 26.5 million tons.

- Authorities in India are increasing the minimum support prices for rapeseed in 2025/26 to 59,900 rupees/ton (712.4 USD/ton) from 56,500 rupees/ton last year.

- According to a forecast by FAS USDA, Saudi Arabia's wheat imports in 2024/25 are expected to reach 4.25 million tons (compared to 4.16 million tons in 2023/24). The wheat production will be 1.5 million tons (1.2 million in 2023/24 and 0.625 million in 2022/23).

- Bangladesh has announced a tender for the purchase of 50,000 tons of milling wheat from unspecified origin. In the previous tender held on October 22, 2024, the lowest bid was from Agrocorp at 301.38 USD/ton.

- Tunisia has purchased the planned 125,000 tons of milling wheat at prices ranging from 262.88 to 264 USD/ton C&F, with delivery scheduled for November to December.