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Wheat exports worldwide

Износът на пшеница в световен мащаб

Wheat exports from the European Union in the 2023/24 season, which began on July 1, reached 5.84 million tonnes by September 8, down 27% from the 8.02 million tonnes exported in the same period of the previous season, data show data from the European Commission report.

As for EU soft wheat imports, they reached 1.37 million tonnes as of September 8, up 71% compared to the same period last year. Durum wheat imports registered a spectacular growth of 1,349% to 473,500 tonnes, from just 32,700 tonnes a year ago. Barley imports reached 540,800 tons, an increase of 37%.

The flow of cheap Russian wheat on the world market, combined with the strong US dollar, continue to be major obstacles to US wheat exports as well. Russia's currency has fallen sharply, 30% since the start of the year, putting Russian exports without competition and pushing up world wheat prices.

Russia is currently harvesting a near-record wheat crop with huge stocks left over from last year's record harvest. In China, weather conditions during the harvest damaged a significant part of the domestic wheat crop, which is sure to lead to an increase in imports into the country.

With the exception of Russia and China, the ratio between stocks and consumption of wheat in the world is almost the lowest in history. The drought has significantly reduced the supply of wheat in Argentina, Canada and Australia.

Ukraine's wheat harvest is far below pre-war levels, and after the termination of the Black Sea deal, it remains difficult to access the world market.

The poor performance of North Africa's wheat crop will also lead to higher demand for imports, as will India's ban on white rice exports. Experts believe the ban will shift food demand from rice to wheat in key regions such as Southeast Asia and Africa.

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