Agriculture & Food

Ye Lianna, director of the analysis department of the Russian food association, said that many countries that originally bought Ukrainian wheat and corn were looking for new suppliers. They first considered the possibility of cooperation with Russia. For example, Ethiopia expressed this intention not long ago.

"Many buyers of Ukrainian wheat and corn have now turned to Russia to find new suppliers. We now have the opportunity to significantly expand the sales region and supply scale, that is, the opportunity to replace Ukrainian grains in the markets of large importing countries," the Russian food association wrote in its document

In recent years, Russia and Ukraine account for about 30% of the world wheat market.

"Ethiopia has expressed interest. Earlier, 45% of its wheat came from Ukraine, about 600000 tons. Wheat purchased from the United States accounted for 23% and wheat in China accounted for 13%," qiulina said She said that after Russia suffered sanctions, Saudi Arabia resumed buying Russian wheat, purchasing 60000 tons last week.

"Global production is falling and trade is growing. Against this background, global prices may show an upward trend," qiulina said

Russia's wheat exports have been steadily ranking first in the world in recent years. In 2022, the wheat harvest may break the record, reaching 87 million tons, and the harvest of all grains will also be very high, 130 million tons, which is allowed to partially make up for the decline in Ukrainian exports. In 2021, Russia harvested 121317 tons of grain, including 76 million tons of wheat.