FAS: Russian grain crop ‘abundant’ amid industry development plan | TSLN.com

FAS: Russian grain crop ‘abundant’ amid industry development plan

Russia’s grain crop in marketing year 2019-2020 “will be abundant, particularly for barley and corn,” but the forecast for Russian production is lower than expected, the Agriculture Department’s Foreign Agricultural Service said in a report this month.

The report also noted that on August 15 Russia approved a long-term grain industry development strategy aimed at strengthening Russia’s position as a global grain market producer and supplier by 2035.

“The strategy highlights priorities of investments in research, production, processing, storage and marketing of grain and grain products. In particular, according to the strategy, by 2035, Russia will be harvesting on average 140 million tons of grain per year, up 24% as compared to the 2018 level,” the report said. “By this time, domestic consumption should reach around 86.2 million tons per year, while exports of grains, legumes and products of their processing should reach 55.9 million tons versus 54.9 million tons of similar exports in 2018.”

–The Hagstrom Report