Russia: Barley export in 2016/17 at three-year low

Russia boosted barley exports toward the end of 2016/17, but their total for the whole season was anyway at a three-year low, reports UkrAgroConsult.

Russia exported 3 mln tonnes of barley in MY 2016/17, or 30% less than a year ago (4.25 mln tonnes in MY 2015/16).

At the same time, the export decline concerns mostly major end markets. In particular, Russian barley supplies to the main importer – Saudi Arabia – decreased 48% to 1.23 mln tonnes. This made it possible to hold positions in other markets. So, Russia managed to keep exports to Iran, increase deliveries to the EU, Libya and Lebanon.

However, it is worth noting that the 2017/18 season in Russia started with record fast barley exports due to high carryovers. Thus, the high closing stocks even played into the hands of Russia’s grain market to some degree. The point is that while the harvest and new-crop grain arrivals were delayed, exporters continued operating with old-crop stocks.

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