Russian grain exports hit record high

Russia supplied a record amount of grain to the global market last month despite mounting Western sanctions, according to the Russian Grain Union (RGU).

The data showed that Russian exports in July amounted to 5.68 million tons of grain crops, including a record 4.54 million tons of wheat. The figure is 1.6 times higher than in the same month of last year.

The top three buyers of Russian wheat were Saudi Arabia (578,000 tons), Türkiye (518,000 tons), and Egypt (467,000 tons). There were also deliveries to Israel (345,000 tons), Bangladesh (222,000 tons), Tanzania (94,000 tons), and Sudan (68,000 tons).

“Latin American countries became new buyers of Russian wheat. For example, 62,000 tons were shipped to Brazil, and 49,000 to Peru. Last year, in July, Brazil and Peru did not buy our wheat,” Elena Tyurina, director of the analytics department at the RGU, told RIA Novosti.

Overall, Russian wheat was supplied to 33 countries last month, compared with 26 in July 2022, according to the report.

Russia retained its status as a net exporter of agricultural goods in 2022, reportedly accounting for every fifth export batch of wheat in the world. The country recorded a record harvest last year, with farmers gathering more than 150 million tons of grain, including over 100 million tons of wheat.

For more stories on economy & finance visit RT's business section