MOSCOW, RUSSIA — Sovecon has cut its forecast for Russia’s wheat exports by 1.3 million tonnes to 37.1 million tonnes for the 2021-22 marketing season, Reuters reported.
This year’s harvest has been delayed by rain. Russia is the leading wheat exporter, mostly to Africa and the Middle East.
Sovecon cut the estimate for Russia’s 2021-22 crop to 82.3 million tonnes this month. Another factor in reduced exports was the slow pace in July. Sovecon expects the country to export 1.9 million tonnes of wheat in July, the lowest for that month since 2017.
The wheat export tax, which is reassessed weekly by the agriculture ministry, is another hurdle for exports, Sovecon said.