Russia: Barley crop forecast reduced by 1.6%

The Russian Union of Grain Exporters has lowered its forecast for the grain harvest in Russia this year by 2.7%, to 130.9 mln tonnes, which is 2.7% lower than the previous week's estimate (134.2 mln tonnes), Interfax reports.

In particular, the estimate of wheat harvest has been reduced by 2.5% - from 86.6 mln tonnes to 84.6 mln tonnes, barley - by 1.6%, from 19.3 mln tonnes to 19 mln tonnes. The forecast for corn production remained unchanged at 15.3 mln tonnes.

The forecast of grain exports from Russia in 2024/25 MY was also lowered by 1.5%, from 58.7 mln tonnes a week earlier to 58.2 mln tonnes. At the same time, the updated estimate of wheat exports was lowered by 3.2% - from 46.7 mln tonnes to 45.4 mln tonnes. The forecasts for barley (4.3 mln tonnes) and corn (5.3 mln tonnes) exports have not changed for the third week in a row.

According to the Union of Exporters, the publication of weekly consensus forecasts was launched “due to the recent natural disasters that significantly affect the production of grain and other basic crops.”

The Russian Ministry of Agriculture's forecast for the grain harvest is 132 mln tonnes, including 85 mln tonnes of wheat.

04 June, 2024