Black Sea grain initiative extended for 60 days
The most prominent exporter in the Black Sea region is Russia, from which strong exports continue to flow in 2022/23 and is forecast to reach a record for annual wheat exports.
The Russian Federation has confirmed it will continue its participation in the Black Sea Initiative for another 60 days. UN Secretary-General António Guterres said in a statement that issues remain, but representatives of Russia, Ukraine, Turkey and the United Nations will keep discussing them.
Under the Black Sea Initiative, more than 30 million tons of food have been exported, Guterres said. “Looking ahead, we hope that exports of food and fertilizers, including ammonia, from the Russian Federation and Ukraine will be able to reach global supply chains safely and predictably – as foreseen in both the Black Sea Initiative and the Memorandum of Understanding on Russian food and fertilizer exports – the implementation of which the United Nations is fully committed to support.”
Russian grain and oilseed exports expand
The most prominent exporter in the Black Sea region is Russia, from which strong exports continue to flow in 2022/23 and is forecast to reach a record for annual wheat exports, according to USDA Russia Grain and Oilseed Exports Expand trade report.
Despite the Russian government's claims of export challenges, Russia’s grain and oilseed exports have thrived during the current marketing year with ample supplies and competitive prices. Export volumes could be even larger, but the Russian government continues to apply export taxes and quotas, trade-restricting measures that are self-imposed, the report stated.
The Russian government ceased publishing its customs data in March 2022 and has significantly reduced the transparency of its trade data, requiring USDA analysts to find additional data sources to accurately measure agricultural trade in the region, the report stated.