News

Experts predict the wheat harvest in the Russian Federation in 2024 at 89.8 million tons

Grains, Cereal & Legumes
Wheat
Russia
Market & Price Trends
Published Nov 29, 2023

Tridge summary

SovEkon has published its forecast for the wheat harvest in Russia in 2024, predicting a decrease to 89.8 million tons from the estimated 91.5 million tons for this year. The decrease is attributed to a smaller pre-harvest wheat area and a lower average yield. Despite the decline, Russia could still remain the world's largest wheat exporter in 2024/2025 due to high stocks, unless there are additional restrictions or abnormal weather conditions in the next six months.
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

“Pre-harvest wheat area is expected to decrease to 29.5 million hectares from 29.8 million hectares this year. Average yield is forecast at 3.04 t/ha versus 3.07 t/ha, respectively,” the company said in a statement. . The decrease in the yield forecast is also due to the expected decrease in the use of agricultural resources, as farmers will significantly reduce costs against the backdrop of declining profitability, experts note. According to SovEcon CEO Andrei Sizov, quoted in the report, despite the decline, the 2024 harvest could be significantly higher than the five-year average - 86.4 million tons. High stocks could allow Russia to remain the world's largest wheat exporter ...
Source: Zol
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