Russia Wheat insights

The export duty rate on wheat from Russia as of October 22 is 99.1 rubles per tonne, down from 318.6 rubles a week earlier, according to the Ministry of Agriculture. Thus, it has decreased threefold. The duty rates on barley and corn remain at zero. The rates were calculated based on indicative prices: $225.5 per tonne for wheat ($225.4 for the previous period), $193.6 for barley ($196.5), and $215.7 for corn ($216.4). These rates will be in effect until October 28 inclusive. The Russian Federation introduced the grain damper mechanism on June 2, 2021. It provides for floating duties on the export of wheat, corn, and barley and the return of funds received from them to subsidize agricultural producers. The size of the duties is calculated weekly based on indicators based on the prices ...

The Institute for Agricultural Market Studies has raised its forecast for wheat production in Russia to 88 million tons this year. The forecast was increased due to high yields in the Urals and Siberia. The export potential of grain has also increased by 0.3 million tons to 57.8 million tons. The Institute for Agricultural Market Studies (IKAR) has adjusted upwards its forecast for wheat production in Russia for the current year, adding 0.5 million tons, bringing the total to 88 million tons. This was reported by the agency "Interfax" by Dmitry Rylko, who holds the position of General Director of IKAR. According to him, the forecast for corn production has also been increased by 0.3 million tons and now stands at 15.3 million tons. At the same time, the estimate for barley production remains unchanged at 19 million tons. As a result, the total forecast for grain production has increased by 0.8 million tons to 137.3 million tons, considering that data from new regions are not ...

Over the past 5 years, Russian farmers have increased the areas under "niche" crops several times. The Russian Ministry of Agriculture explained the reasons for this phenomenon and named the most popular among them. According to Rosselkhoznadzor, Russia may set a record for meat product exports this year. They also reported on current successes in this market. Export prices for Russian wheat decreased by $1 last week. For many competing countries, it was slightly cheaper. Souzmoloko did not support the introduction of a state fee for product labeling. They predict huge losses for the dairy industry if such a decision is made. Trump announced plans to import beef from Argentina to solve two important tasks. Local farmers and even economists fear that this will only lead to new problems.