Results of the 2023/24 grain season for Russia

Published 2024년 7월 15일

Tridge summary

The Russian agricultural industry saw record-breaking grain exports, exceeding 74 million tons, with notable increases in niche crops like rye, oats, and buckwheat. The exit of transnational grain traders allowed Russia to better cater to international markets, leading to significant growth in crop exports, especially to China. Analysts expect continued growth in grain legume cultivation in 2024. Additionally, Iran emerged as a major importer of Russian feed crops, while Indonesia resumed imports and Nigeria halted them due to banking restrictions. Despite initial price challenges, the season ended positively with rising wheat futures and prices influenced by the 'frost effect.'

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Another agricultural year has ended, which again became a record year for the Russian agricultural industry. First place in the export of wheat and barley, leadership in the supply of peas to China - all this became possible thanks to the well-coordinated work of farmers and exporters, despite the weather and political conditions. The field.rf magazine spoke with leading market analysts about the results of Russian agricultural exports and forecasts for the next season. Solid records According to the Rusagrotrans analytical center, in the past season Russia managed not only to maintain, but also to strengthen its position as a leader in wheat exports. Our country’s share increased from 25% in the 2022/23 season to 28% due to an increase in supplies (Rusagrotrans estimate – 55.4 million tons). General Director of the Institute for Agricultural Market Studies Dmitry Rylko According to the General Director of the Institute for Agricultural Market Studies Dmitry Rylko, the completed ...

Source: Zol