LEU-AGRO News Update on Russian Agriculture !!! The Ministry of Agriculture of the Russian Federation proposed increasing the grain export quota in 2024 to 28 million tons, the initial approved quota volume was 24 million tons. According to the draft government resolution posted on the website regulation.gov.ru, the department proposes to introduce for 2024 (until June 30) a separate and additional quota for the export outside the EAEU of wheat and meslin, rye, barley and corn in the amount of 4 million tons. However, as the Ministry of Agriculture previously reported, this year a reduction factor will not be applied when distributing the main part of the quota; this mechanism will begin to operate in 2025. Thus, the size of the additional part of the tariff quota this year will be formed from two parts: 10% of its total volume and the volume that will be formed as a result of voluntary waivers of the allocated quota sizes in April 2024. The Russian Federation began to impose quotas on grain exports in 2020. The restrictions were introduced from April 1 to June 30 and amounted to 7 million tons. From February 15 to June 30, 2021, a new quota was in force, its volume amounted to 17.5 million tons. At the end of 2021, the government decided that the quota would be annual, valid from February 15 to June 30. In 2022, its size was 11 million tons, including 8 million tons of wheat. In 2023 - 25.5 million tons without division into types of grain. The quota for 2024 also does not provide for the specific division of grain. According to the forecast of the Ministry of Agriculture, grain exports from the Russian Federation in this agricultural year (July 2023 - June 2024) may exceed 65 million tons. Last agricultural year, exports amounted to 60 million tons, including 47 million tons of wheat. #leuagro #volgabaikalagro #russia #farmland #agriculturerussia #blackearth #agribusiness #farmingrussia #investors #investing #agroinvestment #harvest #agriculture #grain #wheat #corn #soybean #sunflower #export #sales #marketing #trade #durum #climatchange #environment #foodsecurity #economics #investments #grain #farming
