Source: Zerno.ru (Russia)
In February, South Korea imported its highest quantity of wheat from Russia in over six years, totaling 52.1 thousand tons, as per an analysis by RIA Novosti based on local customs data.
This supply volume saw a twofold increase compared to the previous month and surged 38 times in comparison to the prior year. The last time larger shipments were recorded was in October 2018, when deliveries reached 57.8 thousand tons. Concurrently, the value of Russian wheat exports rose 2.1 times in February, totaling 13.1 million dollars.
Consequently, Russia re-entered the ranks of the top three wheat suppliers to South Korea for the first time since early 2021, capturing an 11% share of the local market. The leading supplier was the United States, which accounted for 62% of all wheat imports, while Australia followed in second with just under 27%. Other exporting nations held negligible shares.
Furthermore, Russian firms also significantly boosted their corn sales to South Korea, increasing by 1.7 times in a month and reaching a three-year high of 77.4 thousand tons valued at 20.3 million dollars. Russia’s contribution to the country’s corn imports was 8.6%.
The primary supplier of corn to the South Korean market remained the United States, which provided 486.2 thousand tons out of a total of 898.1 thousand tons imported by the end of winter. Argentina contributed an additional 191.2 thousand tons, and Brazil supplied 102 thousand tons.
