May 31, 2022

Russia to have 50 million tonnes of grain available for export in July-June season

Dmitry Patrushev, Russia's Agriculture Minister, said the country will have 50 million tonnes of grain available for export in the upcoming July-June marketing season, compared to the 37 million tonnes in the current season, Reuters reported.

Russia, one of the biggest wheat exporters in the world, competes with Ukraine and the European Union to supply the grain to Africa and the Middle East. Grains continue to be shipped from Russia even though Western sanctions have been imposed on the country following its invasion into Ukraine, resulting in logistics and payments issues.

Russia's President Vladimir Putin said the country is estimated to harvest 130 million tonnes of grain this year, which includes 87 million tonnes of wheat.

Patrushev said this year's grain harvest may surpass last year's and reach the amount mentioned by the president.

In 2020, Russia grain crop was a record 133.5 million tonnes, which included 85.9 million tonnes of wheat. The crop was smaller in 2021.

The Agriculture Minister said the country has shipped more than 35 million tonnes of grain, including 28.5 million tonnes of wheat, this season, but did not provide an estimate for wheat exports in the new season.

Grain and other commodity exports from Russia have continued despite a low number of vessels, since many ship owners have ceased operations as a result of Western sanctions.

-      Reuters