After last year’s record amount, Russia expects this year’s grain harvest to be smaller. The Russian news agency Interfax reports, based on data from the Ministry of Agriculture, that a harvest of 120 million tons is expected, while a harvest of between 125 million and 127 million tons was expected in December.
Russia, together with Ukraine, is one of the world’s leading exporters of agricultural products and the size of the harvest therefore influences global food prices. For example, Russia supplies a lot of grain to African, Asian and South American countries.
Last year, Russia achieved a record harvest of 157.7 million tonnes, of which more than 104 million tonnes was wheat. This broke the previous grain record of 135 million tons. It is unclear whether the major harvest has to do with the invading Russian army taking over Ukrainian farmland.
Grain business
Despite the war in the country, Ukraine can export grain thanks to the grain deal with Russia and Turkey. The deal stipulates that grain ships can leave the country via Black Sea ports. The Russians monitor both departing and arriving ships, but have promised not to stop them.
The grain deal was extended by 60 days a few weeks ago, but Russian Foreign Minister Sergey Lavrov today threatened to cancel the deal if Europe refuses to lift export restrictions on Russian grain and fertilizers. Such restrictions apply, for example, to payments and insurance for such exports.
Source: BNR
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