IKAR raised the forecast for wheat exports to 45.5 million tons
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The Institute for Agricultural Market Studies (IKAR) announced an increase in the forecast for wheat exports from Russia. This agricultural year (from July 2022 to June 2023) the forecast has been raised from 44 million to 45.5 million tons, Dmitry Rylko, IKAR CEO, told Interfax.
According to preliminary data from Rosstat, Russia harvested 104.4 million tons of wheat in 2022. Mr. Rylko explained the revision of the forecast by the fact that the estimate of exports of all grain has increased – from 53.5 million to 55.5 million tons.
Russian grain exports are foreign trade operations for the sale of grain, primarily wheat grain, to other countries, a traditional item of export income for Russia.
Previously, the Sovecon company, which specializes in the study of agricultural markets, raised wheat harvest forecast for 2023–2024 by 0.4 million tons, up to 86 million tons. Prior to this, the company raised an estimate of the wheat harvest in Russia in the 2022-2023 agricultural year by 0.9 million, up to 87.4 million tons.
In October, the volume of wheat supplies evaluated at 4–4.4 million tons. According to the results of July-September, wheat exports are estimated at 10.2 million tons, which is 22% less than a year earlier, and 14% less than the five-year average.
Read more in the publication “Kommersant” “Grain processing”.
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