Russia sharply reduced its grain production forecast.

Country: Russia
Russia sharply reduced its grain production forecast.
26 April 2024

The Ministry of Agriculture of Russia forecasts a reduction in grain harvest in 2024 to 132 million tons from 144.9 million tons in 2023. This information is stated in the draft National Report on the Progress of the State Program for Agricultural Development in 2023, as reported by Interfax.

Oilseed production is expected to reach 28 million tons compared to 29.9 million tons in 2023, and sugar beet production to reach 47 million tons compared to 53.1 million tons respectively.

The decrease in crop production in comparable prices in 2024 compared to 2023 is preliminarily estimated at 6.5%, while compared to 2020, a growth of 7.5% is projected.

The Ministry assesses livestock production growth this year at 2.2%, compared to 5.5% in 2020. Specifically, livestock and poultry slaughter production (in live weight) in all categories of farms is estimated to reach 16.9 million tons, an increase of 2.3% compared to 2023. This includes an increase in pork production by 3.9% to 6.3 million tons, poultry by 2% to 7.17 million tons, and cattle by 0.2% to 2.85 million tons.

Milk production in all categories of farms is forecasted at 34.1 million tons, which is 0.9% higher than in 2023, and egg production at 47.2 billion pieces (an increase of 1.2%).

Overall, according to the Ministry of Agriculture's estimation, agricultural production in 2024 compared to 2023 will decrease by 2.9%, while compared to 2020 it will increase by 7%. One of the reasons for the production decline compared to the previous year cited by the ministry is the high base of 2023.

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