Russia's Grain Export Challenge: Navigating Weather Woes and Seed Strategies

Russia's grain exports are set to decrease by 20% due to adverse weather conditions. Agriculture Minister Oksana Lut emphasized the need for domestic seed production as import reliance persists. Despite cuts in export quotas, Russia aims to increase agricultural exports by 50% by 2030, amidst significant challenges.

Agriculture Minister Oksana Lut announced that Russian grain exports would drop by 20% in the 2024-2025 season due to adverse weather impacts. Last season's record harvest faces a cut to 57 million metric tons, marking a significant decrease for the world's leading wheat exporter.

Lut highlighted the importance of protecting the domestic market by enforcing a 70% reduction in export quotas for the season's second half. This move underscores the country's commitment to food security amid challenging conditions in its traditional breadbasket regions.

Despite reducing seed imports by 60%, Russia remains reliant on foreign seeds. Lut called for a focus on domestic seed production, emphasizing that quality improvements are essential to ensure sustainability in the agriculture sector. The minister also pointed to potential new markets for Russian agricultural products, including China for soy exports and opportunities in rice exports.

(With inputs from agencies.)