Durum wheat imports are projected to decrease by 7-8% in the 2023/2024 agricultural year, according to the Ministry of Agriculture of the Russian Federation

The Ministry of Agriculture of the Russian Federation (Ministry of Agriculture of the Russian Federation) has taken the initiative to ban the export of durum wheat for six months, starting from December 1, 2023. The proposal was justified by the reduction in the world wheat harvest and the growing demand for it throughout the world.

A press release published by the press service of the Ministry of Agriculture notes that in most durum wheat producing countries, unfavorable weather conditions will significantly reduce the harvest in the 2023/2024 agricultural year to the minimum level in the last 20 years. According to forecasts, it will be less than 31.3 million tons, which is 7-8% lower than the previous season. Particularly significant declines are expected in North America, where harvests will decline by 20%, including a 30% reduction in Canada, 7% in the US and 4% in Mexico. North Africa is projected to decline by 11%, including an 11% decline in Algeria and a 53% decline in Tunisia. France and Kazakhstan will also face harvest reductions of 6% and 38% respectively.

This significant reduction in the harvest led to an increase in demand for durum wheat on the foreign market. However, to protect the domestic market and ensure the country’s food security, the Ministry of Agriculture of the Russian Federation decided to limit the export of this grain. The proposed export ban is scheduled to go into effect on December 1, 2023 and will last for six months.

This decision of the Ministry of Agriculture of the Russian Federation will ensure the stability and availability of durum wheat on the domestic market, as well as minimize the possible consequences of a shortage of this grain for consumers.

Reports of crop reductions and a proposed ban on durum wheat exports are causing serious concern in a number of grain importing countries. They are faced with a real need to provide themselves with high-quality and sufficient quantities of durum wheat for their needs. Thus, this situation creates potential opportunities for developing cooperation with Russian wheat producers and opening new markets for exports.

The Ministry of Agriculture of the Russian Federation decided to ban the export of durum wheat in light of the worsening situation on the world market for this grain and the need to protect the domestic market. This decision causes different opinions among agricultural market participants and consumers. It is important to base your position on an objective assessment of the economic and food consequences, and continue to search for alternative ways to ensure stability and sustainable development of the agricultural sector.