Russia’s grain harvest not expected to exceed 130 million metric tons in 2024
Date
5/29/2024 8:03:58 AM
(MENAFN) In a significant development for Russia's agricultural sector, the Russian Grain Union (RGU) has drastically revised its forecast for the 2024 grain harvest, anticipating a notable decline to 130 million metric tons. This stark reduction is attributed to the unanticipated freezing temperatures that struck the nation earlier this month, leaving a considerable portion of agricultural land damaged and necessitating extensive resowing efforts. Arkady Zlochevsky, the head of RGU, emphasized the magnitude of the impact, noting that out of 1.5 million hectares affected by the cold snap, 900,000 hectares would require replanting.
Zlochevsky elucidated that the revised projection represents a significant departure from earlier estimates, which had placed the harvest between 142 and 149 million tons. The severity of the situation is underscored by the fact that Russia hasn't witnessed frosts of this magnitude at such a late stage in the year for over a century. Despite efforts to mitigate the damage through spring sown cereal replanting, Zlochevsky cautioned that the harvest would still fall considerably short of what could have been achieved with autumn sown cereal.
Adding to the concerns, Russian Agriculture Minister Oksana Lut indicated that the Ministry of Agriculture is not contemplating a revision of its grain harvest forecast and exports for the current farming year, despite the adverse weather conditions. This stance comes amidst reports of ongoing droughts in the southern regions of the country, compounding the challenges faced by farmers. However, Lut revealed plans to declare a federal state of emergency in response to the abnormal frosts witnessed in May, signaling governmental recognition of the severity of the situation.
Moreover, Lut assured that financial assistance would be extended to farmers engaged in fruit tree cultivation, acknowledging the broader impact of the adverse weather on various sectors of the agricultural industry. The implications of the downward revision in the grain harvest forecast extend beyond domestic concerns, potentially affecting global grain markets given Russia's status as one of the world's leading grain exporters.
As analysts and stakeholders digest the ramifications of the revised forecast, attention is drawn to the resilience of Russia's agricultural sector in the face of unprecedented challenges and the efficacy of governmental measures in mitigating the impact on farmers and food security.
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