The US Department of Agriculture expects that the 2023-2024 season will be marked by a negative trend in agricultural production volumes around the world.

Despite the declared support for Ukraine, in fact many European countries put the interests of their farmers first.

Currently, the Far Eastern Federal District is the leading soybean producer in Russia, but processing capacity is still lacking.

The plans of the two countries include the construction of a large grain terminal, as well as the creation of a full-fledged merchant fleet for transporting agricultural products.

According to forecasts by the Ministry of Agriculture of the Russian Federation, this season we can count on production of up to 6.5 million tons, while at the end of last season this figure was 6.2 million tons.

These countries plan to expand the adoption of such crops, which should help increase yields.

In the first 7 months of this year, this indicator has increased significantly when compared with the same period in 2022.

The new winter crop is expected to reach 48 million tons. This is significantly less than last year.

Currently, the Russian Federation not only sets new records for the flax harvest, but also increases its share in the world market.

According to some reports, the growth rate of the Russian agricultural sector is slowing down. In July, for the first time in 2 years, a decline was recorded.