Russian Ministry of Agriculture is not worried about Turkey’s embargo on wheat 14:21

Turkey’s decision to temporarily suspend wheat imports until mid-October to support local producers will not have a serious impact on the Russian grain market. This was stated by Russian Minister of Agriculture Maria Lut after a meeting with her Egyptian counterpart at SPIEF. TASS.

According to the minister, the situation is not critical for Russia, as a significant decrease in yield compared to previous years is expected. “This will not have a negative impact on us. We trade with many countries, exporters will redistribute volumes,” Lut said.

He remembered this from June to September 2023. Approximately 3 million tons of Russian wheat were supplied to Turkey.

The head of the Ministry of Agriculture said, “Actually, considering that Turkey ranks second in wheat imports, we obtain an additional 3 million tons.”

It is estimated that the grain harvest in the Russian Federation for 2024 will be 132 million tons, of which 86 million tons will be wheat. However, the minister warned that these figures could be lower if dry conditions persist.

“Hypothetically Türkiye is closed, the prerequisites are clear; They want to support the market. Of course, world prices have started to increase and Türkiye wants to reduce prices with such actions,” thinks Lut.

It was known before that tasks The EU will force the Russian Federation to look for new grain markets.

Previously reportedIt is stated that some Russian agricultural producers are facing bankruptcy due to May frosts.

What are you thinking?

Source: Gazeta


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