The forecast for global grain harvest in 2024/2025 has been increased, with Russia increasing its export volumes.

The forecast of the International Grain Council: the global grain production in 2024/2025 will reach 2.3154 billion tons (+500 thousand tons), wheat production will decrease to 798 million tons. In Russia, a decrease in grain production is expected, but an increase in exports. In the European Union, the grain harvest will decrease to 263.7 million tons, and exports will fall to 43.4 million tons. Kazakhstan expects stable figures for grain production and exports.

9 November 2024

In the latest report of the International Grains Council (IGC), a forecast for the global grain harvest in the agricultural year 2024/2025 was presented, which was higher than the previous estimate made in August. It is expected that the volume of grain harvest will reach 2.3154 billion tonnes, which is 500,000 tonnes more. However, the forecast for wheat harvest has been lowered to 798 million tonnes, 1.1 million tonnes less.

Regarding Russia, the report indicates that the volume of grain harvest is expected to decrease by 200,000 tonnes to 119.2 million tonnes. The forecast for wheat harvest remains unchanged at 81.8 million tonnes.

The forecast for grain exports from Russia has been raised to 52.5 million tonnes, 300,000 tonnes more than previously forecasted. Additionally, the estimate for wheat exports has been increased by 500,000 tonnes to 43.7 million tonnes.

As for the European Union, experts have lowered the forecast for grain production by 3.8 million tonnes to 263.7 million tonnes, including a decrease in the wheat forecast from 124.8 million tonnes to 122.4 million tonnes.

It is expected that grain exports from the European Union will amount to 43.4 million tonnes, 3.7 million tonnes less, including 29 million tonnes of wheat, which is 3.4 million tonnes less than in August.

Regarding Kazakhstan, the forecasts for grain and wheat harvest remain unchanged at 20.3 million tonnes and 16 million tonnes, respectively. The forecast for grain exports remains at 11.7 million tonnes, and the forecast for wheat exports is 10.3 million tonnes.

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