Russian grain exporters to focus on markets in Middle East, N. Africa

0 Comment(s)Print E-mail Xinhua, June 11, 2024
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MOSCOW, June 11 (Xinhua) -- Russia's Ministry of Agriculture said Tuesday that the country's grain exporters will shift their focus to key markets in the Middle East and North Africa, and strengthen relationships with India and China.

During a meeting led by Russian Agriculture Minister Oksana Lut with grain exporters, it was unanimously agreed that Turkey's import refusal would not affect Russia's export capabilities, the ministry said. The consensus was that for the upcoming season, starting on July 1, Russia plans to reduce its grain supply to the global market to 60 million tons.

"In the current conditions, domestic exporters will focus on the key markets of the Middle East and North Africa, as well as on the development of relations with India and China, where there is progress in the supply of grain legumes and broad prospects for grain crops are opening up," the ministry said.

The ministry also said that considering last year's high yield, Russia aims to deliver up to 70 million tons of grains to the global markets, including 53 million tons of wheat, in the ongoing season, which concludes on June 30. Currently, one in every four wheat shipments on the global market originates from Russia.

The Turkish Ministry of Agriculture is suspending wheat imports from June 21 to Oct. 15 to support local producers as grain prices are expected to fall. Enditem

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