MOSCOW, RUSSIA — Russian grain exports are expected to stay virtually steady in 2019-20, with the chance of an increase in the second quarter, Reuters reported.
Exports are estimated at 47 million tonnes, down from 48 million tonnes last season. The Russian Grain Union said exports could pick up in the second half of the year due to deflation of domestic grain prices.
Russia’s grain harvest is estimated at 121 million tonnes, Reuters reported. The Agriculture Ministry has said the grain crop could rise to as high as 150.3 million tonnes by 2035 as part of a draft strategy that includes investing billions of dollars into the sector for grain infrastructure and logistics.
In terms of value, combined exports of agricultural products grew 20% to $25.9 billion in 2018.