Russia reduced the volume of wheat exports to Turkey
In 1H2021, Russia exported to Turkey 51 million tons of agricultural products worth $1.8 billion. As the press-service of AgroExport reports, in physical terms, the volume of supplies decreased by 17% compared to the same period in 2020, however, increased in monetary terms by 15%.
At the same time, the sales structure was significantly changed: sunflower oil took first place in export, while wheat fell to second place. In the six months period this year, Russia supplied to Turkey 2.3 million tons of wheat (-29% compared to the January-June period of 2020) worth $579 million (-17%).
Corn shipments increased by 69% to 801 thousand tons in physical terms and by 2.3 times to $184 million in value.
“Turkey was actively purchasing wheat in the first half of 2020-2021 season (July-December) and has formed stocks. Therefore, in the second half (January-June), imports decreased. Export volumes were also affected by the introduction in Russia the procedure for licensing export shipments since February 15, which required some of the Turkish companies to restructure and increase the transparency of operations,” explained Chairman of the Board of the Grain Exporters Union, Eduard Zernin.