US Surpasses Russia in Global Wheat Export Market Share

The global wheat export market has seen a significant shift in recent months, with the US overtaking Russia as the leading supplier. According to UkrAgroConsult, the US now holds a 19.8% share of the global wheat export market, surpassing Russia's 18.1%. This change is attributed to a sharp decline in Russian shipments, which fell by 50% between January and August.

The sharpest deterioration came in August, when Russian wheat exports plummeted to just 1.3 million tons, accounting for only 12.4% of global wheat shipments. The US, on the other hand, saw a significant increase in its share, thanks to expanded shipments to North Africa and the Middle East.

The European Union also strengthened its position in the market, with a 14.2% share of global wheat exports. Ukraine increased shipments to EU markets, exporting 3.5 million tons of wheat since the beginning of the season. The future market share of Russia will depend on the restoration of port infrastructure and export logistics.