Russia’s IKAR consultancy cuts wheat, grain crop forecasts for 2024
Russia’s IKAR agricultural consultancy has cut its forecast for Russia’s wheat crop to 81.8 million metric tons from 82.2 million tons and for thegrain crop to 124.5 million tons from 125 million tons, it said on Thursday.
MOSCOW, Sept 26 (Reuters) -Russia’s IKAR agricultural consultancy has cut its forecast for Russia’s wheat crop to 81.8 million metric tons from 82.2 million tons and for the grain crop to 124.5 million tons from 125 million tons, it said on Thursday.
Dmitry Rylko, the head of IKAR, told Reuters the main reason for the lower forecasts was damage to crops in eastern regions of Russsia due to waterlogged soil.
In September, five regions in Siberia declared a state of emergency due to problems with crops caused by heavy and prolonged rainfall.
IKAR maintained its forecast for wheat exports in the 2024/25 season at 44 million tons, and for total grain exports at 53 million tons, but did not rule out future potential downward revisions.
Source Link : https://www.xm.com/research/markets/allNews/reuters/russias-ikar-consultancy-cuts-wheat-grain-crop-forecasts-for-2024-53934035
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