News

Russia: There will be no record grain harvest in Kuban this year

Grains, Cereal & Legumes
Russia
Market & Price Trends
Published Apr 18, 2024

Tridge summary

The Analytical Credit Rating Agency (ACRA) predicts Russia's 2024 grain harvest could reach 146–148 million tons, marking it potentially the second largest after 2022's record 157.6 million tons. This optimistic forecast contrasts with Vladimir Petrichenko of ProZerno's more conservative estimate of 140 million tons for 2023, including 90-91 million tons of wheat, due to drought concerns, particularly in the South and Kuban region. Despite these challenges, Petrichenko anticipates a slightly higher yield in Kuban at 14.2 million tons and suggests that lower carryover stocks might improve prices for the new season.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The Analytical Credit Rating Agency (ACRA) predicts that in 2024 Russia could harvest the second largest grain harvest, following a record harvest in 2022, Forbes reports. ACRA estimates the future harvest at 146–148 million tons, despite the fact that 144.9 million tons were harvested in 2023. General Director of the analytical company ProZerno, Vladimir Petrichenko, told Business Magazine - South about how winter crops have survived in the South of Russia, as well as forecasts for the harvest in 2024 in Kuban. “According to Rosstat, in Russia in 2022, 157.6 million tons of grains and legumes were harvested, excluding new regions, and in Kuban the harvest amounted to 15.4 million tons. These were historical records for both Kuban and Russia. Last year, the total grain and legume harvest in Kuban reached almost 13.9 million tons. This year, I still have a modest forecast for grain harvest in Russia. It is at the level of 140 million tons of grain, excluding new regions, including ...
Source: Oilworld
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