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Russia to hit record in wheat exports

Moscow, May 24 (Prensa Latina) Russia will have a 26% share of global wheat market by the end of this year, the International Grains Council (IGC) announced.

The CIC recently raised its forecast for Russia´s wheat exports from 52,1 to 53,1 million tons, 10% more than in previous crop year, which will be the absolute maximum in Russia’s modern history, the Sputnik News Agency noted on Friday.

The outcome will be translated into a 25,8% market share and will renew the previous record of 23,4%, recorded in the 2017-2018 crop year.

Notable increases expected in Russia and Argentina (by 5,9 million tons) will be offset by declines in Australia, Canada and the United States: by 11,2 million, 2,4 million and 1,3 million tons, respectively.