Tuesday June 28 2022

Russia’s grain export will reach over 40 mln tonnes in 2021-2022

25 May 2022 08:45 (UTC+04:00)
Russia’s grain export will reach over 40 mln tonnes in 2021-2022

By Trend

The Russian Grain Union believes that grain exports from Russia in the current agricultural year (July 1, 2021 - June 30, 2022) will amount to more than 40 mln tonnes, Vice President of the union Alexander Korbut said on Tuesday, передает Trend reports with reference to TASS.

"We export over 40 mln tonnes of grain, we will completely close the wheat quota," he said. Thus, according to Korbut, Russia will be able to remain first among wheat exporters in the world. He also noted that carry-over stocks of grain for the next agricultural year can even be called excessive. Korbut stressed that export deliveries are continuing despite the difficult foreign policy situation.

At the same time, he noted there is a problem with the discount when selling Russian grain. "Our wheat, and this is the effect of sanctions, is purchased around $25-50 cheaper than the global price," Korbut explained.

According to him, the situation will improve in the next agricultural season, because export demand "will be crazy". "The world is very nervous and there will obviously be export demand," he concluded.

The Ministry of Agriculture estimates grain exports from Russia in the 2021-2022 agricultural year at the level of 45-48 mln tonnes. The Ministry has not yet given a forecast for wheat supplies for export, however, according to the Grain Quality Assessment Center, its export may reach 37 mln tonnes. Grain exports from Russia in 2020-2021 agricultural year (July 1, 2020 - June 30, 2021) reached 49 mln tonnes, including 38.4 mln tonnes of wheat.


Follow us on Twitter @AzerNewsAz

Latest View more