Page 54 - RusRPTDec20

and products of their processing is estimated at 51.2mn tons, 0.4mn tons (0.8%) higher than the previous forecast.
The prediction was made considering the export quotas for a number of grain crops from Russia since February. It did not take into account the possible introduction of a non-zero export duty on grain, said Sovekon. “If the quota is replaced by an export duty, we are likely to see less wheat exports, a potential revision can be roughly estimated at several million tons,” it explained.
Russia’s booming agricultural production has surged by 20% over the last six years. The country has managed to capture more than half of the global wheat market in recent years, becoming the world’s biggest exporter of grain, thanks to bumper harvests and attractive pricing. Since the early 2000s, Russia’s share of the global wheat market has quadrupled. In 2018-2019, Russia delivered 35.2mn tons of wheat to the global market.
54 ​RUSSIA Country Report​ December 2020 www.intellinews.com