Source: Oleoscope (Russia)
The Institute for Agricultural Market Conditions (ICAR) has once again raised its forecast for this year’s grain harvest in Russia and its estimate of the export potential for the current harvest year (July 2024-June 2025).
According to the Director General of ICAR, Dmitry Rylko, the estimate of the grain harvest has been raised from the previous 128 million tons to 129.5 million tons. Wheat accounts for 83.8 million tons instead of 83.2 million tons, barley for 17.2 million tons instead of 16.9 million tons and corn for 14.3 million tons instead of 14 million tons.
This is mainly due to the fact that the harvest was higher than expected in some regions.
The export potential forecast for grain was raised from 55 million tons to 56.2 million tons, including wheat – from 44 million tons to 44.5 million tons.
The Ministry of Agriculture’s forecast for this year’s grain harvest remains at 132 million tons of grain and around 28 million tons of oilseeds.