Russia is able to repeat the record harvest of 2017 in the future. That is what the Minister of Agriculture Alexander Tkachev claims.
The production that the Russians managed to achieve until December 5, 2017, amounts to 139,5 million tons. That is an enormous quantity, which is quite competitive with European quantities. This also makes it one of the biggest factors for the ongoing malaise on the global grain market. By comparison, last year Russia harvested 124,6 million tons.
Exceed performance
Of this, wheat will account for 88 million tons this year. Wheat exports are expected to reach 35 million tons. This means the country is on track to surpass last year's performance. The total export potential of grain is estimated at 53,5 million tons in the 2017/2018 season. Total grain exports will reach 45 million tons this year.
Monster harvest in 2018
The minister does not expect any reduction in the area for 2018. If there are no problems with the weather, another monster harvest will be harvested in 2018. The result is more price pressure and increasing competition from the Black Sea region.