According to Russia’s IKAR agricultural consultancy, the projected grain crop for the 2024/25 season is anticipated to reach 147 million metric tons, with wheat production estimated at 93 million tons. This forecast represents an increase from the previous season, where the grain harvest was expected to be 144 million metric tons, including 91.6 million tons of wheat, as reported by Russian news agency Interfax on Thursday.
IKAR’s outlook suggests a positive trend in grain production for the upcoming season, underscoring expectations of improved yields and agricultural output in Russia. The projected increase in grain production aligns with efforts to enhance agricultural productivity and meet domestic and international demand for key commodities like wheat.
Despite the rise in grain production, IKAR anticipates a slight decrease in Russia’s grain exports for the 2024/25 season, with estimated exports of 50 million metric tons compared to the expected 67 million tons in the 2023/24 season. This adjustment reflects evolving market dynamics, trade patterns, and global demand for Russian grains.
The forecasted figures highlight the importance of Russia’s agricultural sector in contributing to global grain markets and meeting the needs of both domestic consumers and international buyers. The projected increase in grain production signals a positive outlook for Russia’s agricultural industry, emphasizing the country’s role as a significant player in the global grain trade landscape.