Russian grain exports hit historic high

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Despite escalating Western sanctions, Russia supplied a record amount of grain to the global market in the agricultural year from July 2022 to June 2023, according to Agriculture Minister Dmitry Patrushev.

The majority of grain, according to the official, was transferred to “friendly” countries.

“In terms of exports, we delivered an absolutely unprecedented record amount of grain, which is 60 million tons,” Patrushev told reporters on Friday.

“This allowed us to significantly increase our export revenues.” By the end of 2022, they had risen to more than $41 billion.”

Russia, according to the minister, has redirected its agricultural exports to countries that have opposed Western sanctions against Moscow. These countries now receive 87% of exports, with China, Turkey, Egypt, Bangladesh, Algeria, and Pakistan among the destinations.

Russia kept its status as a net agricultural exporter in 2022, and the country today exports every fifth export batch of wheat in the world.

Last year, Russia gathered a record grain production, with farmers harvesting more than 150 million tons of grain, including more than 100 million tons of wheat.