Russia Anticipates Exporting Approximately 55 Million Tons of Grain Annually

The First Deputy Minister of Agriculture of Russia, Oksana Lut, announced that Russia aims to harvest about 130 million tons of grain annually on average and export up to 55 million tons. She added that Moscow has managed to boost its grain exports despite some countries refusing to buy Russian grain due to the conflict in Ukraine, which Russia refers to as a "special military operation." Currently, Russia exports around 80 percent of its grain to the Middle East and North Africa, with Turkey, Egypt, Iran, Saudi Arabia, and Algeria being the largest five buyers, according to the President of the Russian Grain Exporters Union, Edward Zernin. Last week, the Black Sea grain export agreement was extended for another two months, allowing for the safe export of Ukrainian agricultural products. However, Moscow states that it wants to see more progress in implementing the parts of the agreement that concern Russia, including reconnecting the Russian Agricultural Bank to the global SWIFT financial transfer system and restarting a pipeline for transporting ammonia between Russia and Ukraine.