MOSCOW: Russia’s seaborne grain exports rose 39.5% year-on-year in November to 4.8 million metric tons, shipping data from industry sources showed on Friday.
Russia, the world’s top wheat exporter, has been exporting grain at a near-record pace in recent months, despite low global prices and domestic measures aimed at restricting exports to keep prices low at home.
Russia’s grain export potential for the current season is estimated at around 60 million tons. The data showed that seaborne exports have amounted to 27.6 million tons this season, up by 7.08% year-on-year. Seaborne exports, mostly from Black Sea ports, accounted for about 90% of Russia’s total grain exports last season. Last year Russia exported about 62 million tons of grain through its sea terminals, according to analysts’ estimates.
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