Russia Maintains Grain Harvest Forecast for 2024 at 130 Million Tons, Exports Expected at 57 Million Tons
Key Points:
Grain Harvest Overview:
Russia harvested 128 million tons of grain in net weight, including 85 million tons of wheat.
The Ministry of Agriculture expects the final figure to be 130 million tons.
Oilseed Crop Production:
Oilseed crop harvest reached 30 million tons.
Record highs were set for soybean (7+ million tons) and rapeseed (4.7 million tons).
Rice Production & Market Impact:
Rice harvest reached 1.2 million tons, recovering from the Fedorovsky hydro-unit incident.
Future harvests of 1.5 million tons could allow export resumption.
Grain Exports & Quotas:
2024 grain exports totaled a record 72 million tons.
Expected grain exports for July 2024 - June 2025 season: 57 million tons.
Export quotas were set at 10.6 million tons due to declining reserves.
First half of the season (July - December 2024) saw exports of 37 million tons.
Agricultural Preparations & Support:
Winter crops cover 20 million hectares, with 82% in good condition.
Total sown area projected at 83.7 million hectares, 1.1 million more than in 2024.
Preferential agricultural loans increased to 48 billion rubles, including 28.6 billion for seasonal fieldwork.
Government-supported agro-insurance is expanding, expected to cover 20% of cultivated areas.
Continued subsidies for machinery, fertilizers, and seed production to boost domestic agricultural resilience.
Conclusion:
Russia's 2024 grain harvest remains stable despite weather challenges. Lower reserves led to export quota reductions, but agricultural support and modernization efforts continue. The sector aims to maintain food security and strategic export potential.
