Buckwheat (world market)

2012: Russia is torn in leaders of export

As of February, 2012 export of buckwheat from Russia grows. It was succeeded to win a considerable part of the market of North Africa, also against the background of reduction of prices in domestic market expansion to Southeast Asia will begin.

Russia is going to become the world's third exporter of buckwheat, having pushed aside the USA and Australia from the Asian markets.

"One of the most perspective directions of our activity in the direction of export of buckwheat is the Pacific Rim. This segment promptly develops, and Russia has every chance to stake out for itself this market", - Bloomberg quotes the Deputy Minister of Economic Development Andrey Klepach.

Australia which is going to begin pricing war will also fight for the Pacific Rim together with Moscow.

Southeast Asia relies on deliveries from Australia, the USA, Canada and India, reports the Russian union of exporters of grain. The need for import - 15.85 million metric tons, growth for the last 4 years was 40%. The largest importer - Indonesia.

By estimates of trade department of the U.S. Government, export of grain from the Russian Federation will grow five times to record 20.5 million metric tons in 2012.

For February, 2012 at the Chicago exchange the bushel of buckwheat costs $6.355.

These data are confirmed by digits of the Ministry of Economic Development - deliveries abroad through the Far East grow very quickly and can make 1 million tons by 2013, the total amount of export will be 22 million tons.

On this background the American export will drop by 24% up to 26.5 million tons.

Record-breaking - deliveries from Australia will grow by 20%-. In this regard Russia needs to accelerate upgrade of infrastructure of processing, storage and delivery of grain to the foreign buyer, said in a note.

According to Rosstat, from January 31 till February 6, 2012 buckwheat in the Russian retail fell in price by 1.3%.

2011: Record harvests, falling of the prices

In 2011 the prices of buckwheat futures dropped by 20% against the background of growth of world reserves and harvests, record for the last 50 years. The largest world exporter - the USA - at the same time lost a part of the market in North Africa and in the Middle East where the American monopoly was broken by Russia.

2010: A drought in Russia

In 2010 in the country there was a sharp jump in prices of buckwheat because of death as a result of a drought of a considerable part of a harvest. In a year buckwheat in shops rose in price almost three times. Games with the prices continued also in 2011, when in the middle of the year the Altai farmers raised the prices within two weeks by 40% up to 15-16 thousand rubles for ton that led to the corresponding step from processors and affected retail prices.

The bulk of production of buckwheat in Russia provides Altai Krai of which about 50% of an annual yield are the share.