Russia expands grain and oilseeds exports, export prices remain competitive

The Black Sea region is an important supplier of agricultural products in the world. The most notable exporter in the Black Sea region is Russia, which continued to have significant exports in 2022/23 and is projected to hit a record annual in wheat exports. Russian exports of grains and oilseeds have flourished this marketing year thanks to abundant supplies and competitive prices. Over the past decade, the production of grains and oilseeds in Russia has increased significantly, both due to the expansion of areas under some crops, and by increasing the yield of others. In 2022/23mg, production increased across all major grains and oilseeds. In fact, record production of wheat, sunflower seeds and rapeseed was recorded in Russia. Both barley and wheat are primarily winter crops that were hit by ice crust formation in 2021/22 but recovered under ideal weather conditions in 2022/23. Wheat production has nearly doubled from a decade ago. The expansion of grain and oilseed production ...