Russia: Soybean shortage due to rains in Primorye was half the plan

Published 2024년 7월 17일

Tridge summary

Prolonged rains in Primorye during May and June severely disrupted the soybean sowing campaign, with only 51% of the planned 151 thousand hectares being sown. This unprecedented situation in 24 years threatens to reduce soybean exports, although local livestock feed needs will still be met. Farmers face significant financial risks due to loan repayments and inadequate insurance coverage, while regional authorities lack support mechanisms, potentially necessitating federal assistance. Additionally, June flooding affected over 113 thousand hectares of agricultural land, impacting early grains, soybeans, and corn.

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Original content

Long rains in Primorye in May and June of this year prematurely stopped the sowing campaign of soybeans, one of the region’s two main export crops, and led to half of the planned areas not being sown, the press service of the Primorsky Territory government reports. “This year, due to prolonged rains, farmers sowed soybeans a little more than half of the planned area - 151 thousand hectares. Agricultural producers finished sowing soybeans, having fulfilled the plan by 51%. It is not practical to sow this crop; it will no longer ripen,” the press service cites words of the Minister of Agriculture of Primorye Andrei Bronts. According to him, the region will partially reduce soybean exports, which will provide the region’s livestock industry with feed. As Dmitry Nikiforov, a resident of the Free Port of Vladivostok and owner of Pokrovskaya Iskra LLC, which produces soybeans, told TASS, his farm has enough feed soybeans. “The price of soybeans, even taking into account the future crop ...

Source: Kvedomosti