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Russia’s grain harvest expected to reach 128 mln tonnes, wheat - 85 mln tonnes

According to Vice President of the Russian Grain Union Alexander Korbut, the grain harvest will be good and output of all grains and oilseeds will increase, with the exception of rice and sunflower

MOSCOW, May 24. /TASS/. The Russian Grain Union expects Russia’s grain harvest to reach 128 mln tonnes in 2022, including 85 mln tonnes of wheat, Vice President of the union Alexander Korbut said on Tuesday.

"This year's harvest - I personally retain the March forecast - 128 mln tonnes and 85 mln tonnes. It is quite possible it will be bigger, but there are risks," he said.

According to him, the grain harvest will be good in any case and output of all grains and oilseeds will increase, with the exception of rice, its harvest will decrease due to the accident at the Fedorovsky hydroelectric complex in the Krasnodar region, and sunflower. "We have all necessary resources, and there will be no problems with them, the only question will be the price," he stressed. Korbut also noted that, according to his estimates, the starting price of wheat for the new season will be $370-390 per tonne on FOB terms.

According to the Russian State Statistics Service, the grain harvest in Russia in 2021 amounted to 121.4 mln tonnes, in 2020 - 133.5 mln tonnes.

Korbut added that grain exports from Russia in the current agricultural year (July 1, 2021 - June 30, 2022) could amount to more than 40 mln tonnes. "We export over 40 mln tonnes of grain, we will completely close the wheat quota," he said. Thus, according to Korbut, Russia will be able to remain first among wheat exporters in the world. He also noted that carry-over stocks of grain for the next agricultural year can even be called excessive. Korbut stressed that export deliveries are continuing despite the difficult foreign policy situation.

The Ministry of Agriculture estimates grain exports from Russia in the 2021-2022 agricultural year at the level of 45-48 mln tonnes. The Ministry has not yet given a forecast for wheat supplies for export, however, according to the Grain Quality Assessment Center, its export may reach 37 mln tonnes. Grain exports from Russia in 2020-2021 agricultural year (July 1, 2020 - June 30, 2021) reached 49 mln tonnes, including 38.4 mln tonnes of wheat.