The growing importance of the Russian wheat market

In 2017, Russia collected a record wheat yield – up to 85.8 million tons – passed to the media the Russian Ministry of Agriculture. A year earlier it was 73 million tons. Record harvests of wheat caused the United States to give way to Russia in the grain market.

In recent years, Russia has successfully competed with the United States for the title of the largest wheat exporter in the world. In 2015, Russia took the leading position for the first time. A year later, in 2016, the US exported 28 million tons of wheat and regained the first place. According to the US Department of Agriculture, last year, American farmers produced twice as less wheat than Russian farmers. The yield of wheat in the USA was affected by drought and late blizzards. Meanwhile, in Russia, wheat grew under favorable climatic conditions. In five years, crop productivity increased by 70%, thanks to which its export increased to 35.5 million tons and reached a total value of 7 billion dollars.

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