Experts say Russian grain exports hit record in first half of agriculture year

Business & Economy January 17, 17:17

In the first half of the 2022-2023 agriculture year grain exports were seriously lower than the average figures as companies needed time to adjust to market changes, Rusagrotrans saI’d

MOSCOW, January 17. /TASS/. Russia exported record 39 mln tons of grain and grain legumes in the first half of the current agriculture year (from July 1, 2023 to December 31, 2023), the Rusagrotrans analytical center told TASS.

"Export of grain including grain legumes and flour in the first half of the 2023-2024 season reached record 39 mln tons, which is 19% higher than the previous maximum of 32.7 mln tons registered in the season of 2020-2021, and 28% higher than the result of the first half of last season of 30.5 mln tons," the company’s analysts said.

In the first half of the 2022-2023 agriculture year grain exports were seriously lower than the average figures as companies needed time to adjust to market changes, Rusagrotrans said, adding that "starting October 2022 shipments recovered, while starting November they reached record highs." Consequently, Russia exported record 64.5 mln tons of grain during the previous agriculture year, while the previous record on that indicator of 56 mln tons was registered during the 2017-2018 agriculture year.

In the middle of December 2023 Russia’s Agriculture Ministry confirmed its grain export outlook for the current agriculture year (July 1, 2023 - June 30, 2024) of at least 65 mln tons.

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