Russia has set a new record in grain exports for the 2022-2023 agricultural year, despite facing increased Western sanctions, announced Minister of Agriculture Dmitry Patrushev. He stated that the majority of grain was exported to “friendly” nations and highlighted that Russia delivered an unprecedented 60 million tons of grain, leading to a significant increase in export revenues totaling over $41 billion by the end of 2022.
Patrushev attributed the success of Russia’s grain exports to the reorientation of its agricultural trade towards countries that have not supported Western sanctions imposed on Moscow. Currently, 87% of Russia’s grain exports are destined for nations such as China, Turkey, Egypt, Bangladesh, Algeria, and Pakistan.
In recent years, Russia has fostered strong relationships with reliable and responsible foreign partners. This has enabled the country to maintain its position as a net exporter of agricultural produce in 2022. Interestingly, every fifth export batch of wheat worldwide originates from Russia, underscoring its prominent role in the global market.
The country’s record-breaking grain exports can largely be attributed to the exceptional grain harvest it experienced last year. Russian farmers managed to gather more than 150 million tons of grain, including over 100 million tons of wheat. This abundance of high-quality produce has further solidified Russia’s standing as a major player in the global grain market.
As Russia continues to excel in the agricultural sector, it has become crucial for global economies to closely monitor its activities. The country’s achievements not only have a significant impact on its own economy but also influence international trade and food security.
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