IKAR raises forecast for Russia’s wheat harvest by 1.5 mln tns

MOSCOW, Aug 8 (PRIME) -- The Institute for Agricultural Market Studies (IKAR) has raised its forecast for Russia’s wheat harvest in the current agricultural year that started on July 1 and would end on June 30, 2024 by 1.5 million tonnes to 88 million tonnes, IKAR CEO Dmitry Rylko told PRIME on Tuesday.

The forecast for the total grain harvest was raised by 2.5 million tonnes to 137 million tonnes, and the grain export potential was also upgraded by 1.5 million tonnes to 61 million tonnes, including 47.5 million tonnes of wheat.

The previous forecast already took into account the unfavorable weather of the ongoing harvesting. IKAR adjusted it after the Federal State Statistics Service had published its data on the sowing area in 2023.

The wheat sowing area was expanded by 0.87% on the year to 29.769 million hectares this year, while the barley sowing area grew by 0.13% to 7.987 million hectares, according to the service.

The Agriculture Ministry expects Russia’s grain harvest to reach 123 million tonnes, including 78 million tonnes of wheat in 2023, with the export potential reaching 55 million tonnes.

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