Russia exports record 70 mln tonnes of grain in 2023/2024 season

MOSCOW. Aug 2 (Interfax) - Russia exported more than 70 million tonnes of grain in the 2023/2024 agricultural year (July to June), a record amount for the country, the Agriculture Ministry told Interfax.

"And it should be noted that the needs of domestic grain consumers are fully met thanks to a quota mechanism," the ministry said.

The grain export quota was 29 million tonnes this year. Russia has had quotas for grain exports since 2020, with the quotas in effect from February 15 to June 30 and calculated annually based on the scale of the harvest and domestic needs.

Grain exports last season rose by almost 17% from the 2022/2023 agricultural year, when Russia exported 60 million tonnes of grain, including 47 million tonnes of wheat.

The Agriculture Ministry expects grain exports to total up to 60 million tonnes in the current agricultural year, which began on July 1, due to the anticipated lower harvest this year. The ministry forecast that the harvest will drop to 132 million tonnes in 2024 to 144.9 million tonnes in 2023, because of bad weather conditions.