Russia plans to increase grain exports to 46.6 million tons from July 2023 to February 2024, according to an analyst forecast.

According to the forecasts of Igor Pavensky, the head of the analytical department at the company "Rusagrotrans," the Russian Federation plans to export 46.6 million tons of grain from July 2023 to February 2024. This figure significantly exceeds the results of the same period last year when 38.7 million tons were exported. Overall, for the entire agricultural year 2023/2024, grain exports are expected to reach 66.7 million tons, and including legumes and flour, 71.8 million tons. Pavensky shared this information at the grain forum in Dubai, as reported by Finmarket. According to him, in August 2023, Russian grain exports reached a record monthly level of 6.98 million tons. In November, due to unfavorable weather conditions, only 4.65 million tons were exported, which was the lowest figure since 2021, but in December, the volume of shipments recovered to 5.33 million tons. It is projected that from July 2023 to February 2024, wheat exports could reach 35.6 million tons, which is 3.7 million tons more than in the same period of the previous season. Overall, wheat exports of 52.5 million tons are expected for the current season. According to the expert's forecast, barley shipments in the current agricultural year could increase to 7.2 million tons compared to 5.6 million tons in the previous year, the volume of corn could reach 6.2 million tons (compared to 6 million tons last year), and the export of legumes could increase to 3.46 million tons (compared to 2.08 million tons in the previous season). According to Pavensky's data, from July 2023 to January 2024, Russian wheat accounted for 70% to 90% of imports to Turkey, Egypt, Bangladesh, Pakistan, and Kenya. In particular, the share of supplies to Turkey increased from 70% to 89%, decreased in Egypt from 74% to 66%, but is expected to recover in the coming months, increased in Bangladesh from 34% to 70%, decreased in Pakistan from 74% to 67%, and increased in Kenya from 57% to 90%.