Russia will harvest less oilseeds and grains in 2024 – forecast

Oil & Fats
Market & Price Trends
Published Apr 17, 2024

Tridge summary

The Russian Ministry of Agriculture predicts a downturn in agricultural production for 2024, with significant drops in grain, oilseed, and sugar beet outputs, marking a decrease to 132 million tons, 28 million tons, and 47 million tons, respectively, from higher levels in 2023. Conversely, livestock production is expected to see a 2.2% increase, including higher outputs of pigs, poultry, and cattle, alongside modest gains in milk and egg production. Overall, the agricultural sector is projected to contract by 2.9% in 2024, largely due to the high production benchmarks set in the previous year.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Russia’s grain harvest in 2024 may decline to 132 million tons from 144.9 million tons in 2023, the Russian Ministry of Agriculture forecasts in its draft National Report on the implementation of the state program for agricultural development in 2023. The production of oilseeds is expected to reach 28 million tons against 29.9 million tons in 2023, sugar beet – 47 million against 53.1 million tons, respectively. The agency estimates the growth in livestock production this year at 2.2%, compared to 5.5% in 2020. In particular, the production of livestock and poultry for slaughter (in live weight) in farms of all categories is estimated to be 16.9 million tons, which is 2.3% more than in 2023. In particular, the production of pigs will increase by 3.9% to 6.3 million tons, poultry – by 2% to 7.17 million tons, and cattle – by 0.2% to 2.85 million tons. Milk production in farms of all categories is projected at 34.1 million tons, which is 0.9% more than in 2023, and egg production at ...
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