Monitoring - Fork Cast

Russia plans to export 1 million tons of meat abroad this year. The exports have increased to Chinese and African markets. However, the strengthening of the ruble and animal diseases in Europe could pose risks to the plans.

The company "Damate" has been granted the first right in Russia to export turkey meat to Singapore.

Export of wheat from Russia decreased to 1.9 million tons in February, the lowest level in the past five years.

Prices for wheat within the country have risen. Further decrease in export volumes is predicted due to low profitability and demand from exporters.

The potential wheat export for this season is estimated at 42 million tons, a decrease of 1.9 million tons compared to the previous season.

The company ProZerno has announced that the prices for rye have increased from 8 to 15.1 thousand rubles per ton. Wholesale prices have risen by 70%, reaching 11,223 rubles per ton. The reduction in rye cultivation due to high costs and low profits is causing concern among specialists.

It is possible that rye will become a niche product due to insufficient demand and high production costs.

Analysts at SovEcon have reduced their forecast for Russian wheat exports for the current season to 42.2 million tonnes due to low profitability for exporters. For the next season, they expect export growth to reach 38.9 million tonnes. The wheat export quota may not have been fully utilized as traders aim to improve margins. SovEcon has warned of a slowdown in export pace due to limited supply, a strong ruble, and negative margins.

Russia increased its exports of mineral products and metals in 2024, while the export of agricultural products decreased. The total export amounted to 433.9 billion dollars, with imports at 283 billion. Asia became Russia's main partner. The export of agricultural products remained at the same level as in 2023, despite the instability of global prices.

Production of commercial milk in Russia is expected to reach 26.3 million tons by 2025. Forecasts for the current year are conservative, showing a slight growth. By 2030, production could increase to 31.3 million tons.

Exports are expected to increase by 44%, while imports are projected to decrease by 18%.

Fishermen have decided to lower prices for red caviar before Maslenitsa and International Women's Day. In the Russian Far East, prices for pink salmon caviar start at 4,500 rubles per kilogram, which is 1.5 times cheaper than in December 2024.

Fishermen are ready to meet the demand, and a decrease in prices is expected. Caviar production has decreased by 2.5 times compared to 2023.

The government has updated the Strategy for the Development of Agriculture until 2030, aiming to increase production by 25%, export up to $55.2 billion, and investments by 12.2%. Moreover, it includes enhancing technological independence to 66.7% and improving workforce provision. It is essential to pay attention to the insufficient assessment of risks for the industry's development.

The grain harvest forecast for 2024 is around 125 million tons, but there is a possibility of a decrease due to risks. Winter crops require high temperatures, and ice crust on the fields can damage plants.

Russia's grain exports have decreased to 47-48 million tons due to higher domestic prices and low reserves.

Starting from February 1, sunflower oil will increase from 1719 rubles to 17786 rubles per ton. The duty on meal will decrease by 882.9 rubles to 3888 rubles. Dmitry Ryalko, the Director of the Institute for Agrarian Market Conjuncture, warns about possible industry problems due to the decrease in oil prices and the increase in seed prices. Uncertainty in the global market also affects the situation.

By 2024, Russia has strengthened its position in the global export of vegetable oils, increasing its share to 8.5%. The export of oils has grown by 8%, leading to an 89% increase in capacity utilization within the country.

The volume of exports of oilseeds has decreased by 37% due to the introduction of export duties.

Company "EPT" plans to supply 26 million tons of grain to Iran from 2024 to 2035, with the possibility of increasing the volume to 55 million tons. The agreement is signed with the Iranian company IranianEurasia.

The project aims to increase trade turnover and develop the "North-South" transportation corridor.