Russia’s Ministry of Agriculture said Tuesday the country’s grain exporters will shift their focus to key markets in the Middle East and North Africa.
The country also plans to strengthen relationships with India and China.
Russian Agriculture Minister, Oksana Lut, held a meeting with grain exporters.
The meeting unanimously agreed that Turkey’s import refusal would not affect Russia’s export capabilities, the ministry said.
The consensus was that for the upcoming season, starting on July 1, Russia plans to reduce its grain supply to the global market to 60 million tons.
“In the current conditions, domestic exporters will focus on key markets of the Middle East and North Africa. It will also focus on the development of relations with India and China.
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“Through those relations, there is progress in the supply of grain legumes. And broad prospects for grain crops are opening up,” the ministry said.
The ministry also said that considering last year’s high yield, Russia aims to deliver up to 70 million tons of grains to the global markets.
This includes 53 million tons of wheat, in the ongoing season, which concludes on June 30.
Currently, one in every four wheat shipments on the global market originates from Russia.
The Turkish Ministry of Agriculture is suspending wheat imports from June 21 to Oct. 15 to support local producers as grain prices are expected to fall. (Xinhua)
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