- Sputnik International, 1920
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Russia’s Share in Global Wheat Export to Surpass 25% in 2024

© Sputnik / Ilya Naymushin / Go to the mediabankWheat harvesting in the Krasnoyarsk Territory
Wheat harvesting in the Krasnoyarsk Territory - Sputnik International, 1920, 24.05.2024
In its Grain Market Report, the International Grains Council (IGC) has increased its forecast of Russian wheat exports by 1 million tons to a record 53.1 million. That means Russia will occupy almost 26 percent of the market for the first time in history, Sputnik explains.
The world's grain trade body predicts Russia will corner a quarter of the global market for wheat and other cereals this year.
The IGC now expects Russia to export 53.1 million tons of wheat in the current agricultural year, compared to its April forecast of 52.1 million tons.
This will be the highest export volume in modern history and will be almost 10 percent more than the 2023 figure.
As a result, Russia’s share of world wheat exports could rise to a record 25.8 percent. The previous high was recorded in the 2017-2018 agricultural year, with a share of 23.4 percent, while the last year’s share stood at about 23.2 percent.
Wheat - Sputnik International, 1920, 15.05.2024
Major Grain Hub to be Established in Russia's Tatarstan
In 2024, global wheat exports will reach 205.7 million tons, compared to 207.4 million in 2023. Significant increases in Russian and Argentine exports (5.9 million tons growth) are offset by decreases from Australia (by 11.2 million tons), Canada (by 2.4 million tons) and the United States (by 1.3 million tons).

The International Grains Council (IGC) is an intergovernmental organization that aims to enhance international cooperation in grain trade, grain market stability and world food security. Russia is an IGC member.

To participate in the discussion
log in or register
Заголовок открываемого материала