Russia will export 55-60 million tonnes of grain in the 2022-2023 season in line with the quota allotted in the country's general export plan, the Russian Agriculture Ministry said on Thursday.
MOSCOW (Pakistan Point News / Sputnik - 19th January, 2023) Russia will export 55-60 million tonnes of grain in the 2022-2023 season in line with the quota allotted in the country's general export plan, the Russian Agriculture Ministry said on Thursday.
"Quotas are determined based on the export plan at a level of 55-60 million tonnes. This volume will allow a transition to the beginning of the next season with comfortable carry-over balances. There are no plans to reduce export quotas," the ministry said.
According to the Russian Statistics Service, the grain harvest in the country grew by 26.7% compared with 2021 and reached 153.8 million tonnes.
The ministry also said that, in 2022, Russia created an intervention fund totaling 3 million tonnes of grain, adding that there is no need to conduct procurement interventions on the sugar market under current prices, which are around 17,000 rubles ($250) higher than the lowest threshold requiring intervention.
