Experts note that Russia is capable of supplying at least 60 million tons of grain to foreign markets in the current agricultural year.
Experts believe that Russian wheat has recently maintained a strong position in the global market.
This trend will likely continue. For example, there is every reason to believe that the total volume of grain exported from the country will reach 60 million tons this season, with wheat accounting for approximately 54 million tons of this volume.
In this case, grain exports will increase by 7 million tons compared to last year, and wheat exports by 10 million tons: last season, these figures were 53 million and 44 million, respectively.
There is every reason for such optimism. Last year’s wheat harvest was 91 million tons, exceeding the recent annual average.
Analysts claim that one of the main factors that contributed to this result was the increased yield. Thus, given Russia’s existing wheat reserves, it is quite likely that it will increase its export volumes.
The government’s recent decision to allocate an additional grain export quota of 5 million tons will provide additional incentive for exporters.
As a result, the total permitted export volume by the end of the agricultural year (from February 15 to June 30) will reach 25 million tons. This is a significant volume, experts emphasize.
Currently, Russian grain is actively purchased by countries in the Middle East and North Africa, in particular.
Turkey and Egypt stand out among them.
Turkey doubled its purchases of Russian grain last season, and this season, Russia has already shipped over 7 million tons of grain and legumes to Egypt, including approximately 6 million tons of wheat.
Egypt is also increasing its purchases. This is happening, in part, against the backdrop of growing domestic consumption.
This season, Russia has already exported over 7.6 million tons of grain to the Egyptian market, the majority of which is wheat.
However, experts note that Russia is simultaneously developing new markets. In particular, countries such as Iran, Sudan, China, Israel, and Iraq have great potential as importers of Russian grain.
Finally, African countries deserve attention, as their share of Russian grain exports reached a record 40% last agricultural year.
There is every reason to believe that this figure will continue to grow in the future, as African countries have great potential and a high need to feed their growing populations.
