Russia cut grain exports by half in January amid growth of domestic prices
Arkady Zlochevsky noted that exports in January always declined compared to other months, including due to weather conditions and holidays, but not so much.
Grain exports from Russia in January 2025 fell by half compared to January last year, Arkady Zlochevsky, President of the Russian Grain Union, said at a press confer-ence at TASS.
"Our January exports fell by half compared to last year," Zlochevsky said.
He noted that exports in January always declined compared to other months, in-cluding due to weather conditions and holidays, but not so much.
This happened because the domestic price that has grown in the context of fairly low prices on the world market, Zlochervsky said.
"Prices on the world market have eaten up the exporters' margin, and the export-ers have reduced their activity quite sharply. <…> Earlier, in case of such a discrepancy between grain prices on domestic and foreign markets, exporters simply reduced their purchasing activity, and this lowered domestic prices, but this was in conditions of high reserves. Now, however, there are few reserves, and prices are not falling," Zlochevsky explained.
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Grain exports from Russia in January 2025 fell by half compared to January last year, Arkady Zlochevsky, President of the Russian Grain Union, said at a press confer-ence at TASS.
"Our January exports fell by half compared to last year," Zlochevsky said.
He noted that exports in January always declined compared to other months, in-cluding due to weather conditions and holidays, but not so much.
This happened because the domestic price that has grown in the context of fairly low prices on the world market, Zlochervsky said.
"Prices on the world market have eaten up the exporters' margin, and the export-ers have reduced their activity quite sharply. <…> Earlier, in case of such a discrepancy between grain prices on domestic and foreign markets, exporters simply reduced their purchasing activity, and this lowered domestic prices, but this was in conditions of high reserves. Now, however, there are few reserves, and prices are not falling," Zlochevsky explained.
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