Sovecon forecasts Russian wheat harvest at 89.8 mln tns in 2024

MOSCOW, Nov 28 (PRIME) -- Agricultural research agency Sovecon has forecasted Russia’s wheat harvest in 2024 at 89.8 million tonnes after 91.5 million tonnes in 2023, the agency said in a research note on Tuesday.

The yield is expected to decline amid a medium condition of the sown ground and a low yield of crop breeding.

The sown area is estimated at 29.5 million hectares in 2024 after 29.8 million hectares in 2023, the average yield at 3.04 tonnes per hectare after 3.07 tonnes per hectare in 2023.

"We expect farmers to attempt to cut costs of technical and material resources proactively," the researchers said.

Still, the harvest is to exceed the average annual crop for many years at 86.4 million tonnes, and a market pressure of a high harvest is expected to remain in the 2023–2024 season.

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