According to a forecast by IKAR, in 2024/25, Russia will reduce its flour exports to 550,000 tons, which is a decrease of about 50% compared to 2023/24, when it was 1.1 million tons.
On July 18, 2024, the Egyptian state company GACS purchased 20,000 tons of sunseed oil at a price of 1,013.99 USD/ton with delivery from September 1 to 15.
According to a SovEcon forecast, Russia will export 2.8 million tons of wheat in July, compared to 4.5 million tons in July 2023 and an average of 3 million tons for the month.
IKAR has raised its forecast for Russia's wheat production in 2024 from 82 million tons to 83.2 million tons. The total grain production is forecasted at 128 million tons.
As of July 9, 2024, 7.6 million hectares of grain crops have been harvested in Russia, yielding 29.1 million tons of grain, including 23.4 million tons of wheat and 3.3 million tons of barley.
