MOSCOW, RUSSIA — Russia has increased its grain export estimates for the 2020-21 marketing season to 50 million tonnes, Reuters reported.
The government is preparing its export quota for the January to June period as the situation has changed from the height of the coronavirus (COVID-19) pandemic in the spring. A large harvest, rising domestic prices and a weakening ruble are being considered as a new export quota mechanism is evaluated.
The government originally forecast 45 million tonnes of grain to be exported in the 2020-21 marketing season, which runs July 1, 2020 through June 30, 2021, Reuters reported.
Victoria Abramchenko, deputy prime minister, told Russian news agencies, “We are maintaining our leading positions in the global grain market, and that tendency will continue.”
Since July 1, Russia has exported 14 million tonnes of grain, Reuters reported.