The Union of Exporters presented a consensus forecast for the grain harvest in the Russian Federation

Published May 21, 2024

Tridge summary

The Union of Grain Exporters has released estimates for Russia's grain harvest and exports in 2024, predicting a decrease to 134.5 million tons from the previous year's 144.962 million tons. The forecast includes 86.8 million tons of wheat, 19.3 million tons of barley, and 15.3 million tons of corn. This projection takes into account natural disasters and return frosts in May, leading to approximately 900 thousand hectares needing replanting. Despite these challenges, the sown area for all agricultural crops in 2024 is planned to increase by 300 thousand hectares to 84.5 million hectares. Industry analysts, including the Institute of Agricultural Market Studies (IKAR), have also reduced their wheat harvest forecasts for Russia, predicting 86 million tons, down from 91 million tons earlier.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Union of Grain Exporters, in connection with the latest natural disasters, has begun publishing consensus forecasts for the production and export of grain crops, according to the union’s Telegram channel. The gross grain harvest in 2024 is estimated at 134.5 million tons, including 86.8 million tons of wheat, 19.3 million tons of barley and 15.3 million tons of corn. In 2023, according to Rosstat, 144.962 million tons of grain were harvested in the Russian Federation, of which 92.851 million tons of wheat (minus 10.9% year-on-year), 21.147 million tons of barley (minus 9.6%) and 16.628 million tons of corn (plus 5.3%). According to the latest estimates from the Ministry of Agriculture, domestic farmers will have to replant approximately 900 thousand hectares following the return frosts in May. In general, the sown area under all agricultural crops in 2024 was planned at 84.5 million hectares, 300 thousand hectares more than a year ago. Russian industry analysts have already ...
Source: Oilworld
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