News

IKAR: Russia's wheat exports to exceed half of harvest for the first time in 2023/24

Wheat
Grains, Cereal & Legumes
Russia
Market & Price Trends
Published Apr 24, 2024

Tridge summary

Dmitry Rilko, the head of IKAR, predicts a significant increase in Russia's wheat exports, reaching 52 million tons in the 2023/24 period, up from 48.1 million tons in 2022/23, despite a decrease in wheat production from 104.2 million tons to 92.8 million tons. This rise will boost Russia's global wheat export market share to 25%. Overall, Russia's grain exports are expected to grow to 70.3 million tons in 2023/24, up from 62.2 million tons, with projections for 2024/25 indicating stable wheat exports at 52 million tons out of an expected 93 million tons in total grain production.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

IKAR head Dmitry Rilko said that in 2023/24, Russia's wheat exports will reach 52 million tons, while wheat production is 92.8 million tons. For comparison, in 2022/23, wheat exports were 48.1 million tons and the harvest was 104.2 million tons. Rilko said that in 2023/24, Russia's share of the global wheat export market will reach 25%. IKAR expects Russia's grain exports to reach 70.3 million tons in 2023/24, up from 62.2 million tons in the previous year. For 2024/25, IKAR ...
Source: Foodmate
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