Located partly in Eastern Europe and partly in northern Asia, Russia is one of the biggest grain producers and exporters of the world. The country harvests bulk volumes of grains every year and this has helped the nation establish itself as a reliable supplier in the global grain market.
The significance of Russia in the global grain market can be easily gauged from the fact that when the war between Russia and Ukraine broke in 2022, countries from different parts of the world started to struggle to meet their food needs. The world witnessed a severe food crisis and the intensity was such that only an agreement between the two nations at war, namely Russia and Ukraine seemed to be the way out. The Black Sea Grain deal brokered by United Nations and Turkey brought a sigh of relief to people around the world and timely extensions of the deal has ensured regular supply and stable prices of the grains in the global market.
Russia is actively exporting grains to meet the consumption needs of people around the world and Russian Agriculture Minister, Mr. Dmitry Patrushev, said in a statement that Russia has plans to export 50-55 million tonnes of grain from 1st of July 2023 to 30th of June, 2024.
Official’s Statements
Mr. Dmitry Patrushev, Russian Agriculture Minister said that Russia has been taking a series of measures to encourage grain production and domestic production data support the same as well.
In 2022, with bumper grain harvest, Russia had set a new record. Back last year, Russia’s domestic wheat and barley production accounted for 13 per cent and 16 per cent of the total global production. Owing to increased production, Russia is constantly pushing for increased grain exports; however, meeting domestic market demand is still a priority for the government, Mr. Dmitry Patrushev said.
Measures Taken By Russia To Increase Grain Production
Russia has taken a series of initiatives to encourage the grain producers of the country and boost domestic production. As a part of plan, the country is planning to strengthen the port infrastructure and develop its own fleet for transportation of grains. It is also planning to build grain distribution centers in importing countries and promote settlement in local currencies.
The Bottom Line
Russia-one the biggest grain producers and exporters of the world is planning to export 50-55 million tonnes of grain from 1st of July 2023 to 30th of June, 2024 and this has brought smiles on the face of people who highly depend upon Russia for their consumption needs. Mr. Dmitry Patrushev, Russian Agriculture Minister, have also said that while they are aiming to give exports a push, the domestic needs still remain a priority.
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