Russia will continue to pressure the grain market this year

In the new agricultural season (starting from July), Russia will remain the number one exporter of wheat, despite the decrease in the grain harvest, taking into account high carry-over stocks, World of NAN reports citing rg.ru.

Igor Pavensky, head of Rusagrotrans analytical center, estimates that Russia will harvest 129.8 million tons of grain in 2023 (compared to 157.7 million tons last year), including 84.1 million tons of wheat (compared to 104.2 million tons last year).

Russia will be able to supply 41 million tons for export against 48 million tons in the previous season. Its closest competitor - the European Union - will remain in second place with the result of 32.7 million tons despite increased supplies.

Canada will remain in the third place: the country can ship 23.8 million tons to foreign markets (previous result - 25.1 million tons).

Export potential in Australia and Ukraine is expected to decrease considerably. And in Argentina, export growth is predicted to be almost twofold.

On the whole, Rusagrotrans forecasts that the export potential of the main exporting countries will decrease by 20.3 million tons, to 166 million tons.

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