The sowing campaign that has started in Russia gives good prospects for the harvest

Russia

Market & Price Trends

Published Mar 28, 2024

Tridge summary

Russia has achieved its second-largest grain harvest in history, with a total of 142.6 million tons, including 92.8 million tons of wheat, leading to significant domestic supply and exports worth $143.5 billion. The country exported a record 60 million tons of grain last season and aims for 70 million tons this year, supported by large carry-over balances. Efforts to ensure another successful harvest include timely fieldwork, adherence to scientific recommendations, and a focus on using domestic seeds. The sown area for this year is projected at 84.5 million hectares. To support agricultural productivity, the government has allocated 558.5 billion rubles for state programs, including subsidies for seeds, fuels, equipment, and preferential loans, with measures in place to mitigate fuel shortages during the sowing campaign. These initiatives are expected to yield favorable outcomes for Russia's agricultural sector.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Last year, Russia received the second grain harvest in the entire history of the country - 142.6 million tons, including 92.8 million tons of wheat. This made it possible not only to supply the domestic market with a reserve, but also to send significant volumes of grain to foreign partners. Exports amounted to $143.5 billion. Last season we exported a record 60 million tons of grain alone, and this year, due to large carry-over balances, the potential is about 70 million tons. This year, the main goal is to carry out all field work in the optimal time frame, taking into account the recommendations of scientists, and get an equally decent harvest, Deputy Minister of Agriculture Andrei Razin told RG. In the Southern, North Caucasian, and individual regions of the Central and Northwestern federal districts, winter grain crops are being fertilized, and in the regions of the Volga region, Siberia and the Far East they are preparing for this work. Now 94.4 percent of the crops are in ...

Source: RG