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LONDON, March 7 (Reuters) – Moscow’s leading agricultural consultancy SovEcon on Monday cut its Russian wheat export forecast for the July 2021-June 2022 period from 0.8 million tonnes to 33.5 million tonnes, the report reported. Interfax news agency.
SovEcon said in a statement that it based its latest assessment on the assumption that active military operations in the Black Sea region would slow the pace of exports in March-April.
Russia’s invasion of Ukraine resulted in the closure of the entire Sea of Azov east of the Crimean Peninsula to shipping.
SovEcon said exports from March to April are expected to be overland and amount to around 1 million tonnes per month.
In May and June, he expected exports to reach more than 2 million tonnes per month.
Sovecon said Russia’s Black Sea terminals were working, but shipowners were not yet ready to send their vessels to the region. However, Russian traders have started buying wheat again at the ports, he added.
SovEcon said Russia exported 27.7 million tonnes of wheat in the July-February period.
(Writing by Kevin Liffey; editing by Jonathan Oatis)
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