Russia May Hit National Grain Export Record in 2023-2024 Agricultural Year

MOSCOW (Sputnik) - Russia may hit its national record for grain exports in the 2023-2024 agricultural year that started on July 1, with supplies forecast to exceed 60 million tons registered last season, Russian Grain Union President Arkadiy Zlochevskiy said on Tuesday.

In the last agricultural year, which lasted from July 2022 to June 2023, Russia exported a record 60 million tons of grain, Russian Agriculture Minister Dmitry Patrushev said in July.

"We can easily hit the record of 60 million tons this season," Zlochevskiy told a press conference.

Shipments have already reached record rates, with 13 million tons of Russian grain exported in the first two months of the current agricultural season, he added.

"We are expecting our second biggest gross harvest in history. All analysts have kept their forecasts at around 140 million tons. We have been keeping our forecast at this level since spring and have recently raised it for wheat from 86-89 million tons to 91-92 million tons," the Russian Grain Union chief said.

In 2022, Russia's gross grain harvest increased by 29.9% year-on-year up to a record 157.676 million tons. The Russian Agricultural Ministry forecasts that in 2023, the grain harvest will reach 123 million tons and grain exports will reach 55 million tons.

Meanwhile, Russian President Vladimir Putin said on Monday that the country might harvest around 130 million tons of grain, 60 million of which may be allocated for export.