Europe Is Feeling the Power of Russian Wheat as Exports Drop
- EU wheat exports have dropped 25% this season, Russia’s up 20%
- Country is expanding in markets in Africa and the Middle East
A combine harvester operates as night falls during the summer wheat harvest on a farm in Novoalexandrovsk, Russia, on July 16.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
European wheat exports are buckling under the weight of Russia’s record harvest.
The world’s top shipper is proving a fierce competitor as this year’s bumper crop drives even more exports. As it makes inroads into the European Union’s traditional markets, Russia’s selling point is simple: good quality wheat at prices that many rivals just can’t beat.