News

ICAR predicts record wheat exports from Russia in the 2023-24 agricultural year

Wheat
Grains, Cereal & Legumes
Russia
Market & Price Trends
Published Apr 21, 2024

Tridge summary

In the 2023-2024 agricultural year, Russia is set to achieve a record level in wheat exports, with projections indicating that exports will constitute 56 percent of the harvest, a first in surpassing half of the total harvest. Dmitry Rylko, from the Institute for Agricultural Market Studies (IKAR), estimates that Russia will export 52 million tons out of a 92.8 million ton harvest, an increase from the previous year's figures. This surge in exports will allow Russia to contribute a quarter of the global wheat supply, with total grain exports expected to reach 70.3 million tons this year. However, a slight decrease to 68 million tons is anticipated for the 2024/2025 season due to potential supply exhaustion. The International Grains Council also supports this optimistic outlook, with forecasts of Russian grain production at 134 million tons and wheat exports at 52.1 million tons.
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

Wheat exports from Russia in the 2023-2024 agricultural year (for grains and their processed products in Russia every July - ROSNG) may reach a record level. As Finmarket reports, this forecast was announced at the international conference “ProStarch 2024: Market Trends for Deep Grain Processing” by Dmitry Rylko, General Director of the Institute for Agricultural Market Studies (IKAR). He explained that we are talking about the ratio of this indicator to the volume of the harvest. For the first time in the entire history of observations (the organization has been operating since 1998 - ROSNG), it will be more than half - 56 percent. In exact figures, the expert estimated the supply of grain abroad and its collection at 52 and 92.8 million tons, respectively. In the last agricultural year, the figures were 48.1 and 104.2 million tons, respectively, that is, the ratio was just over 46 percent. “Of course, the reserves are sitting here.” But nevertheless,” noted the head of ICAR, ...
Source: Rosng
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