Russia: There are 4 million tons of grain in the elevators and storage facilities of the Saratov region

Purchasing prices for food wheat of classes 3 and 4, as well as feed grain, have been declining throughout Russia throughout February. Moreover, there have been no attractive prices for the producer for the most common crop for two years now, although wheat exports in 2022 and 2023 were on the rise. Analysts blame it all on the surplus of grain on the domestic market, which arose due to large harvests. In the Saratov region, more than 6 million tons of grain were harvested in 2022, and 5.5 million tons in 2023. The consequences of these records are being felt in grain elevators and storage facilities across the region. As the head of the department, Roman Kovalsky, said at a recent meeting of the Ministry of Agriculture, the region is overstocked with wheat, the reserves amount to 4 million tons, and the price of this crop on the market is low. The minister even advised agricultural producers to switch from wheat to alternative crops, chickpeas, lentils, buckwheat and potatoes. ...