The Russian Grain Union expects a new export record this year

The supply of Russian grain in the agricultural year that began on July 1, 2023-2024 may exceed 60 million tons – a record result of the previous season. This was told by the head of the Russian Grain Union (RGU) Arkady Zlochevsky to journalists.

“Prospects for the harvest are very good. Considering that ending stocks are at a historically high level, our total amount of resources allows us to export even more than last season, when an absolute record was set – over 60 million tons. This season we can easily beat it,” leads his words TASS.

In August, 7.7 million tons of grain were exported, which is also a record monthly figure, Zlochevsky added.

At the All-Russian Field Day in July, Minister of Agriculture Dmitry Patrushev toldthat in 2022-2023 agricultural year [1 июля 2022 г. – 30 июня 2023 г.] Russia supplied 60 million tons of grain to foreign markets. According to him, since 2020 Russia has maintained the status of a net food exporter, in 2022 the volume of supplies of agricultural products abroad amounted to $41.6 billion. Grain exports from Russia in 2021-2022 amounted to 38.1 million tons, and 2020-2021 – 49 million tons.

Earlier, Patrushev said that the forecast for grain harvest in Russia in 2023 could be adjusted to the big side. In April, he said that the grain harvest in the country, taking into account new regions, is projected at the level of 123 million tons at the end of the year, of which 78 million tons will fall on wheat.

At the end of August, Agritel analysts said that Russia will continue to dominate the grain market in 2023-2024, which is necessary “in an unstable global balance.” Against the backdrop of a decline in production in Canada and Europe, world grain supplies will drop to 793.37 million tons (-3 million tons). In this context, Russia will strengthen its position as the world’s leading supplier with an export capacity of 49 million tons of wheat, which is the average for the past five years.