IKAR in Mass and Industry Media

Russia’s flour exports can be halved in 2024/2025 agricultural year — industry expert

TASS

According to the presentation, flour exports from Russia at the end of the 2023/2024 agricultural year amounted to 1.1 million tons

MOSCOW, July 19. /TASS/. Flour exports from Russia in the 2024/2025 agricultural year may be halved compared to the 2023/2024 agricultural year, to 550,000 tons, according to the data Dmitry Rylko, General Director of the Institute for Agricultural Market Studies (IKAR), presented during a conference of agricultural producers and suppliers of inputs and services for the agricultural sector.

"Flour exports will inertly remain at a high level. But it may turn out to be significantly lower than the record achieved in 2023/2024," Rylko said.

According to the presentation, flour exports from Russia at the end of the 2023/2024 agricultural year amounted to 1.1 million tons.

Among the reasons for the decrease, Rylko noted that for the first time in the last three years, the level of export duty on wheat is lower than the conditional cost of processing for an average flour mill.

"When the level of export duty on wheat goes below the cost of processing, all is lost. And those flour millers who expected that they would continue their expansion can expect quite serious disappointment," Rylko said.

He also said that in the 2023/2024 agricultural year, the main importers of Russian flour were Iraq, China and Afghanistan.

https://tass.com/economy/1819137

19.07.24

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