Russian Ag Ministry raised its forecast for grain production and exports

03.10.2017

The Ag Ministry of Russia did raise its forecast for grain production in the country. The head of the ministry said it was previously cautious in estimating the final crop because of adverse weather in some regions of the country, informs UkrAgroConsult.

“Almost 85% of areas have been harvested to date, with a crop of 122 MMT in bunker weight. We can say surely that farmers will harvest the largest crop in the entire history of Russia and the Soviet Union,” said the ag minister.

He reminded that the all-time record was set in 1978: 127 MMT. “But we’ll beat this record this year, I don’t doubt,” Tkachev stressed.

According to him, grain acreage equaled 78 Ml in 1978 and 47 Ml ha this year. For the first time in 15 years, this year’s total planted area in Russia exceeded 80 Ml ha, 520 Th ha of new land was brought into agricultural production.

As a reminder, the previous forecast of the Ag Ministry for the Russian grain crop equaled 110 MMT. The ministry raised its forecast for Russian grain exports in MY 2017/18 by 5 MMT to 45 MMT. At the same time, it left the export estimate for wheat unchanged at 30 MMT.

According to the minister, grain exports from Russia are already one-third higher than last year. More than 10 MMT of grain has been shipped abroad, including almost 8 MMT of wheat.

As a reminder, to stimulate grain exports, the Ag Ministry proposes allocating RUB 3 Bl for compensation of rail freight rates for export grain deliveries from distant areas: Siberian, Ural, Volga and Central regions.

 

UkrAgroConsult

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