Russia slips on the grain market

the exchange rate moved from 101 to 76 rubles per dollar, severely reducing revenue from foreign sales. A slight recovery in exports in November and an expected increase in December will not compensate for the slump of the previous months. The cancellation of the export duty will also have limited impact: it offsets only part of the currency losses while simultaneously reducing the Kremlin’s ability to support the agricultural sector, which is already suffering from declining profitability. Global market conditions further worsen Russia’s position. FAO expects a record global grain harvest exceeding 3 billion tonnes in 2025 and an increase in world grain stocks to 925.5 million tonnes by the end of the 2025/26 season. Amid this oversupply, the FAO grain price index fell 5.3% year-on-year in November, adding even more pressure on Russian exporters. For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the ...