APK-Inform raised its forecast of production of grains and pulses in Russia in 2021/22 MY by 1% to 126.8 mln tonnes, down 5% compared to the preceding season (133.5 mln tonnes).
Wheat production will amount to 80.3 mln tonnes (+1% to the previous forecast, -7% to 2020/21 MY), barley - 19 mln tonnes (-5%, -9%), corn - 15 mln tonnes (+8%, +8%). The experts adjusted their estimates due to the weather conditions and later start of the harvesting campaign.
The export of grains and pulses will decline by 3% year-on-year to 48.1 mln tonnes in 2021/22 MY. Russia will export 39.5 mln tonnes of wheat (+5%), 3.5 mln tonnes of barley (-44%), 4 mln tonnes of corn (-11%).
“Russia will raise the export of wheat due to the high carry-over stocks at 14.1 mln tonnes (+42% to 2020/21 MY). At the same time, the export duties on corn and barley as well as significant decline of the carry-over stocks of these grains amid mass export in 2020/21 MY will cut their foreign supplies in 2021/22 MY”, - the experts said.