Russia Climbs to Second Place in Brazil’s Wheat Export Ranking

In a significant development for the wheat export market, Russia has ascended from fourth to second place among wheat exporters to Brazil, surpassing the United States and Paraguay. The latest data from the federal center “Agroexport” highlights Russia’s growing prominence in Brazil’s wheat import landscape.

Surging Wheat Exports

Russian companies exported nearly 900,000 tonnes of wheat to Brazil in 2023, marking a substantial increase in trade volume. This surge underscores Russia’s expanding footprint in the Brazilian market and its rising role as a key supplier of wheat to the region.

Market Share Expansion

Russia’s share of total wheat imports in Brazil surged to 21%, signaling a significant gain in market share. While Argentina maintains its position as the primary wheat supplier to Brazil, with a dominant share of 54%, Russia’s rapid rise reflects a notable shift in trade dynamics.

Overtaking Argentina

In a notable development, Russia outpaced Argentina in wheat exports to Brazil in October 2023, with exports totaling 246,000 tonnes. This achievement underscores Russia’s growing competitiveness and its ability to capture market share from established suppliers.

Russia’s ascent to the second position in Brazil’s wheat export ranking signifies a major milestone in the global wheat trade landscape. As Russia continues to bolster its presence in key markets like Brazil, the dynamics of wheat trade are evolving, presenting new opportunities and challenges for industry stakeholders. Stay tuned for further updates as Russia solidifies its position as a leading player in the global wheat market.

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