IKAR Lowers Wheat Export Forecast from Russia

Written By Viktor Zhuravlev

The Institute for Agricultural Market Studies (IKAR) has reduced its wheat export forecast for Russia for the agricultural year 2024-2025 to 42.5 million tons, a decrease of 0.5 million tons.

  1. This adjustment reflects a lower projection in the wheat harvest range for 2025, now estimated between 77-85 million tons.

  2. Currency fluctuations, particularly the weakening of the ruble, significantly influenced the lowered export estimate.

  3. Concerns among farmers about the profitability of wheat cultivation could potentially reduce planting areas and fertilizer application.

Conclusion: The revised forecast by IKAR suggests a cautious outlook for Russia's wheat market, influenced by economic factors and farmer sentiment.

Source: Read the full article

Viktor Zhuravlev
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