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Figaro: In 2023-2024, the Russian Federation will continue to dominate the grain market KXan 36 Daily News

Date: July 24, 2024 Time: 05:04:07

As the author notes, as high wheat yields are maintained for the second year in a row, “quite bright prospects are opening up” for the Russian Federation.

“Russia will continue to dominate the grain market in 2023-2024, despite the risks for shipping in the Black Sea,” the publication says.

The journalist also quoted the words of Agritel’s chief agricultural market analyst. The specialist considers that Russian dominance is “simply necessary” in a context of global instability of supply and demand.

At the same time, the US Department of Agriculture predicts that world wheat supplies will decline in the near future, while stocks will decline slightly. This, as the author writes, should strengthen Russia’s position as the world’s leading exporter. According to him, Russian exports account for 23 percent of world trade.

Earlier, the US Department of Agriculture raised the estimate of Russian wheat export potential in 2023-2024 to 48 million tons. This is 0.5 million tons more than forecast a month earlier.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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