The grain exports from Russia will reach a record 70 million tons thanks to high yields, predicts the First Deputy Minister of Agriculture.

Thanks to high yields in the past two years, grain exports this year are expected to reach a record level and may reach 70 million tons. Oksana Lut, the first deputy minister of agriculture, made this forecast at the plenary session of the forum "Development of Agribusiness in Russia" of the Central Federal District - 2024.

"In the current season, we expect to export (grain - ed.) a record 70 million tons, we have never achieved such results before," Lut said.

According to her, the Ministry of Agriculture is monitoring crop rotations in Russia and observes a decrease in the sown area of spring wheat. However, the department believes this is a positive trend that will help balance the situation in the grain market and lead to an increase in wheat prices.

"The fact that our agricultural producers and regions have reduced the sown areas of spring wheat within their structure is positive, it is correct, we have already discussed this. We planted more winter crops, but less spring ones. For now, we expect that this season we will get a grain harvest lower than the previous one, and this is not bad because we are not aiming to set new records. Balance is important to us. We understand that business must be profitable, and if wheat is less profitable, we switch to other crops," said the first deputy minister. She also added that grain legumes, especially peas, are a promising direction as they have great export potential to China and India, unlike wheat.

According to the National Report on the Implementation of the State Program for the Development of Agriculture in 2023, the Ministry of Agriculture predicts that the grain harvest in Russia will decrease to 132 million tons in the 2024 season.