Russia says may cut grain exports for current agricultural year

MOSCOW, Aug 5 (PRIME) – Russia, the world's top grain exporter, may reduce its 50 million tonne export plan for the current agricultural year that will end on June 30, 2023, if its grain crop is below 130 million tonnes, the Agriculture Ministry said in a statement on Friday quoting Minister Denis Patrushev.

As of today, the Russian farmers have harvested about 55 million tonnes of grain after finishing harvest at 27% of the area. Still, the 2022 harvest is significantly below that of 2021 as of the same date.

“It creates risks for achievement of the grain harvest result of 130 million tonnes. We will obviously provide for our own market fully, there will be no problems with that,” Patrushev said, as quoted by the ministry.

“But if we fail to meet the planned amount, we will also have to revise the export plan of 50 million tonnes, which may have a negative impact on the global grain market.”

Droughts in the U.S. and Europe, as well as floods in Australia and bad weather in India will reduce the global supply of wheat this season. The quality of wheat may also worsen due to the weather hazards. Coupled with the logistics restrictions, the factors could lead to serious risks for the international food security this year, he said.

He also said that the ministry planned to control procurements of Russia-made seeds by the  regions for the 2023 sowing campaign.

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