News

Granaries of the Motherland: is there enough capacity in Russia for grain storage? Grain harvest in Russia Prospect for 2024 Capacity shortage with growing orders Construction of new facilities Situation in small farms

Grains, Cereal & Legumes
Russia
Market & Price Trends
Innovation & Technology
Published Apr 16, 2024

Tridge summary

Russia has recorded near-historic grain harvests, with the 2023 harvest reaching nearly 147 million tons, reinforcing its status as a net agricultural exporter with revenues surpassing $45 billion. Despite the bounty, there's debate over the adequacy of storage facilities to handle such volumes, with some experts citing a shortage and others pointing to the need for quality improvements. Looking ahead to 2024, Russia anticipates a harvest of about 140 million tons, facing challenges related to storage capacity and the economic implications of surplus grain due to export restrictions. Amidst this, KOBLiK GROUP has seen a 15% increase in orders for elevator equipment, supported by a preferential lending plan for storage construction, indicating a proactive approach to expanding storage capabilities in response to the sector's growth and current market dynamics.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Record grain harvests in recent years have side effects, and this is not just a drop in prices. Thus, a number of experts note a lack of capacity for storing crops, but others, on the contrary, are confident that there are enough warehouses, elevators and other equipment suitable for shipping crops. What capacities are there in the Russian Federation for storing grain, what strategy should its producers choose, and whether enterprises are ready to invest in new elevators and warehouses, the field.rf magazine learned from representatives of the agro-industrial complex market. At the end of 2023, Russian farmers managed to collect 143 million tons of grain, and taking into account new regions, this figure is completely close to 147 million tons. This is the second harvest in the country's history after the record in 2022, when 157.6 million tons were harvested. According to the Ministry of Agriculture, such high production figures allowed Russia to reaffirm its status as a net ...
Source: Oilworld
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