Russian pressure on the world grain market is set to increase

Asociatyvi nuotr. Canva nuotr.

The leadership of the Russian Federation has approved an additional 5 million tonnes of grain export quota, presumably to raise additional funds. This additional quota was announced on the Russian government's website.

" The government has set an additional quota for cereal exports from Russia outside the Eurasian Economic Union. The measure is aimed at supporting agricultural producers. In view of the record grain harvest in 2023 and the sufficient supply of grain products on the domestic market, farmers will be able to additionally supply their products abroad," the message said.

The additional quota will remain in force until 30 June. The previous quota from 15 February to 30 June was 24 million tonnes.

Totalitarian leader Vladimir Putin said in early March that Russia would export around 65 million tonnes of grain for the season.

In 2022, šalis reaped a record harvest of 157.6 million tonnes of grain, including 104 million tonnes of wheat. The previous year, some 145 million tonnes of cereals were harvested, including 92.8 million tonnes of wheat.

For years, Russia's ever-increasing grain exports have brought huge profits to the šal aggressor, even surpassing the export earnings of the entire Russian military-industrial complex.

In comparison, Lithuania's grain harvest amounts to about 7 million tonnes, of which about 5 million tonnes is exported.