European markets continue to develop under pressure from the size of the new Russian crop. Last week we brought you the figures for Ukrainian exports, which have fallen to 6.68 million tonnes so far for the 2023/24 season, down from 8.99 million tonnes for the same period in 2022/23. What do the data say about the Russian harvest and will the fears of the operators be justified?
"This year's harvest of wheat, vegetables and fruits in Russia will be good," President Vladimir Putin said Sunday in an address marking the Day of Agricultural and Manufacturing Workers.
"Last year we had a record grain harvest of nearly 158 million tons. This year, Russia will once again enjoy a rich harvest of cereals, oilseeds, fruits and vegetables and will increase the production of meat, milk and fish," he said.
"Today, our farmers provide all basic food products for the domestic market. The export potential of the industry is also growing," Putin added.
At the same time, official data from the country's Ministry of Agriculture show that Russian farmers have harvested over 133.5 million tons of grain as of October 5, 2023, which is 15 million tons less than the same period last year. year.
The wheat harvest was 93.8 million tons, which is 13 million tons less than the same period a year ago. Farmers harvested 22 million tons of barley, 9.9 million tons of sunflowers, 3.9 million tons of canola and 3.6 million tons of soybeans.
In addition, farmers in the country harvested 6.2 million tons of potatoes and 3.5 million tons of vegetables as of October 5.
According to Agriculture Minister Dmitry Patrushev, the country's grain harvest could reach 135 million tons, including 90 million tons of wheat.
The government also announced the weekly duty on wheat exports, which will be increased to 5,224 rubles ($51.8) per ton, in the period from October 11 to 17, 2023.
Barley export duties will total 1,166.1 rubles ($11.6) per tonne, down from the current rate of 1,251.1 rubles per tonne, while maize duties will be raised to 3,120.8 rubles ($30, 9 dollars) per tonne from 2,853.8 rubles per tonne, the ministry said.
The export duty rate for wheat was calculated at an indicative price of $248.8 per ton, for barley at $178.4 per ton, and for maize at $206.8 per ton.
"This year's harvest of wheat, vegetables and fruits in Russia will be good," President Vladimir Putin said Sunday in an address marking the Day of Agricultural and Manufacturing Workers.
"Last year we had a record grain harvest of nearly 158 million tons. This year, Russia will once again enjoy a rich harvest of cereals, oilseeds, fruits and vegetables and will increase the production of meat, milk and fish," he said.
"Today, our farmers provide all basic food products for the domestic market. The export potential of the industry is also growing," Putin added.
At the same time, official data from the country's Ministry of Agriculture show that Russian farmers have harvested over 133.5 million tons of grain as of October 5, 2023, which is 15 million tons less than the same period last year. year.
The wheat harvest was 93.8 million tons, which is 13 million tons less than the same period a year ago. Farmers harvested 22 million tons of barley, 9.9 million tons of sunflowers, 3.9 million tons of canola and 3.6 million tons of soybeans.
In addition, farmers in the country harvested 6.2 million tons of potatoes and 3.5 million tons of vegetables as of October 5.
According to Agriculture Minister Dmitry Patrushev, the country's grain harvest could reach 135 million tons, including 90 million tons of wheat.
The government also announced the weekly duty on wheat exports, which will be increased to 5,224 rubles ($51.8) per ton, in the period from October 11 to 17, 2023.
Barley export duties will total 1,166.1 rubles ($11.6) per tonne, down from the current rate of 1,251.1 rubles per tonne, while maize duties will be raised to 3,120.8 rubles ($30, 9 dollars) per tonne from 2,853.8 rubles per tonne, the ministry said.
The export duty rate for wheat was calculated at an indicative price of $248.8 per ton, for barley at $178.4 per ton, and for maize at $206.8 per ton.
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