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10.18
07:16

Russia intends to rapidly expand its capacity to handle grain exports

Russia's Minister of Agriculture intends to rapidly expand its export capacity for grain exports; The largest wheat exporter in the world wants to open up new markets.
By 2024, the country should be able to export 77.7 million tons of grain, which would be 25 million tons more than today.
Some export terminals are to be expanded, others are to be newly built, two of them for exports to China. In 2017, it became clear that with the record harvest of 135 million tonnes, export capacities are reaching their limits.
The 2018 crop is also large at 106 million tonnes compared to the last 10 years. Russia could export between 30 and 35 million tons of grain this season because there are still stocks from the last harvest. In the previous season Russia had exported 52.4 million tons.
With new export capacities, the export value of Russian agricultural goods could double to $ 45 billion in 2024 (2017: $ 21.7 billion). New target markets are China, Southeast Asia, Africa, the Gulf States and India.

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