Source: APKinform (Ukraine)
SovEcon has lowered its forecast for the grain harvest in Russia in 2024 to 122.9 million tons, down from 124.4 million tons in its September estimate, Interfax reports.
The analysts noted that this figure could be the lowest since 2021, when Russia harvested 121.3 million tons of grain.
“The forecast for the wheat harvest was lowered from 82.9 million tons to 81.5 million tons due to a significant decline in yields towards the end of the harvest in several Siberian regions. Therefore, the estimate for the Siberian FD was lowered from 11.3 million tons in the previous month to 10.2 million tons,” the report states.
The estimate for the barley crop was also revised downwards, from 17.2 million tons to 16.5 million tons, mainly due to lower yields in Siberia. At the same time, the forecast for maize was raised from 11.7 million tons to 12.2 million tons, which is due to relatively high yields in the Central and Volga federal districts.
On October 10, the Russian Ministry of Agriculture also lowered its official forecast for the Russian grain harvest this year from 132 million tons to 130 million tons, including wheat – from 84 million tons to 83 million tons.