News

The Ministry of Agriculture predicts a decrease in the harvest of oilseeds and grains in the Russian Federation in 2024

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

Tridge summary

The Russian Ministry of Agriculture forecasts a decline in grain harvest from 144.9 million tons in 2023 to 132 million tons in 2024, alongside decreases in oilseeds and sugar beets production. Despite this, a 7.5% increase in overall agricultural production is expected from 2020 levels, driven by a 2.2% growth in livestock production, including livestock, poultry, milk, and eggs. However, compared to the high production base of 2023, a 2.9% reduction in overall agricultural output is anticipated for 2024, still achieving a 7% rise from 2020 figures.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Grain harvest in the Russian Federation in 2024 may decrease to 132 million tons from 144.9 million tons in 2023, the Ministry of Agriculture predicts in the draft National Report on the progress of the state program for agricultural development in 2023. Interfax has reviewed the document. Production of oilseeds is expected to be 28 million tons versus 29.9 million tons in 2023, sugar beets - 47 million versus 53.1 million tons, respectively. The decrease in crop production at comparable prices in 2024 compared to 2023 is tentatively estimated at 6.5%; compared to 2020, an increase of 7.5% is predicted. The department estimates growth in livestock production this year at 2.2%, compared to 2020 at 5.5%. 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. Including pig production will increase by 3.9%, to 6.3 million tons, poultry - by 2%, to 7.17 ...
Source: Oilworld
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