Leading in Wheat and Barley Exports
According to preliminary data for the agricultural season from July 1, 2023, to June 30, 2024, Russia has emerged as the world leader in wheat and barley exports. This achievement was highlighted by Alexander Malov, Head of the Agricultural Markets Regulation Department at the Russian Ministry of Agriculture, during a meeting at the Federation Council, as reported by TASS.
Dominance in the Grain Market
Malov noted that Russia ranks third globally in the overall grain and cereal market and second in sunflower oil exports. He also mentioned that the Russian Federation currently exports agricultural products to more than 160 countries.
Significant Presence in the Vegetable Oil Market
According to Olescope, Russia held the third position in the global vegetable oil market last season, with an 8% share, following Indonesia and Malaysia. Additionally, Russia’s contribution to the global supply of sunflower, rapeseed, and soybean oils stands at 20%.
Surge in Grain Exports
Rosselkhoznadzor previously reported a 21% increase in grain exports during the completed agricultural season, reaching 89.3 million tons. Barley exports, in particular, saw a significant rise of 67%, totaling 9.46 million tons.
Future Export Projections
At the end of May, Russian Deputy Prime Minister Dmitry Patrushev announced at the All-Russia Grain Forum that Russia could export up to 70 million tons of grain in the 2023-2024 agricultural season, with approximately 53 million tons of this being wheat.