RATIN Adverise Here

Russia to expand grain exports 33% to 60 million

Posted on March, 13, 2018 at 10:00 am

Tom Houghton

Russia will expand its grain production to 150 million mt by 2030, leaving it with an additional third of export capacity, a representative from the ministry of agriculture has told a gathering of domestic agriculture industry in Krasnodar.

The expansion in production would require Russia to produce grain on 50 million hectares of land, with farmers averaging a yield of 3 mt per hectare, Petr Chekmarev told the audience.

With Chekmarev putting domestic grain consumption at 80 million mt, an expansion to 150 million mt from 135 million mt of annual production would give Russia an additional third of export capacity on top of what it currently sells.

“We need to learn how to trade, create an infrastructure, and export it in its pure form or processed,” Chekmarev said in a speech quoted by TASS, alluding to previous announcements on bilateral trade deals as well as the need to develop domestic flour processing capacity.

Having grown its biggest crop on record, Russia is currently well on track to reach its target of 45 million mt of exports this marketing year.

Total grain sales now stand at 34.6 million mt, a 41% increase on the same stage last year, according to its most recent update on March 5.

Source: AgriCensus