Russia: The Ministry of Agriculture expects record grain exports in the current agricultural year

Grains, Cereal & Legumes
Market & Price Trends
Published Apr 23, 2024

Tridge summary

Russia's grain exports are projected to hit a record 70 million tons in the current agricultural year, as announced by First Deputy Minister of Agriculture Oksana Lut. This surge is attributed to consecutive years of high yields, despite a slightly pessimistic forecast of a 132 million ton grain harvest. The Ministry is prioritizing market equilibrium over achieving record harvests, with strategies including a reduction in spring wheat sowing to potentially boost wheat prices. Additionally, efforts to diversify crop production are underway, focusing on peas and other pulses to tap into large markets such as China and India, aiming to provide a 'safety cushion' for Russia's agricultural sector.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Supplies of grain abroad from Russia in the current agricultural year (for grain in our country every July changes - ROSNG) may reach a record level of 70 million tons. As pole.rf reports, such a forecast was voiced by First Deputy Minister of Agriculture Oksana Lut at the plenary session of the “Development of Agribusiness in Russia” forum. According to her, this will be possible thanks to the record harvest in the past and the high harvest this year. She noted that our country has never exported such serious volumes. At the same time, let us recall that for the current year the Ministry of Agriculture presented a more negative forecast for the country’s grain harvest for this agricultural year – 132 million tons. The ministry presented this assessment in its recent draft National Report on the progress of the federal program for agricultural development. Now the Ministry of Agriculture continues to monitor crop rotation in Russia. According to Lut, recent observations have shown ...
Source: Rosng
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