Turkey's refusal to import wheat will not impact Russia's export potential, as domestic grain exporters plan to concentrate on key markets in the Middle East and North Africa, as well as on strengthening relations with India and China in the upcoming agricultural season, according to the Agriculture Ministry following a meeting between Agriculture Minister Oksana Lut and grain exporters.
"The meeting participants reached a consensus that Turkey's import refusal will not affect our country's export potential. In the new season, it is planned to reduce global market supply from Russia to 60 million tons of grain. Under current conditions, domestic exporters will focus on key markets in the Middle East and North Africa, and on developing relations with India and China, where there is notable progress in the supply of grain legumes and significant prospects for grain crops," the ministry's report stated.
The ministry highlighted that, considering the high harvest of 2023, Russia plans to supply up to 70 million tons of cereals to global markets this season, including 53 million tons of wheat.
"Currently, every fourth batch of wheat on the global market is of Russian origin," the Agriculture Ministry noted.
Turkey's Agriculture Ministry is suspending wheat imports from June 21 to October 15 to support local producers and due to the anticipation of lower grain prices.
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Based on materials from TASS