OREANDA-NEWS  According to the results of the 2023-2024 agricultural season, Russian agricultural exporters sent a total of a record 55.3 million tons of wheat to foreign buyers. As a result, for the first time, Russia accounted for more than a quarter of global exports of these products, RIA Novosti reports, citing data from the International Grains Council (IGC).

The agricultural season started on July 1, 2023 and ended on June 30, 2024. According to its results, domestic agricultural companies accounted for 26.1 percent of global wheat exports.

The official data turned out to be higher than the expectations of IGC analysts. The latter predicted that in the 2023-2024 agricultural season, Russia will send 53.1 million tons of wheat abroad. However, as a result, Russian agricultural exporters managed to achieve the maximum volume of supplies to foreign buyers in the entire modern history of statistical observations.

The achieved result turned out to be almost 15 percent more than the indicator for the previous agricultural season. The previous maximum was set in the 2017-2018 agricultural season — then Russian farmers accounted for a total of 23.4 percent of global wheat exports. According to the results of the 2022-2023 season, the figure was about 23.1 percent.

Earlier, the Minister of Agriculture of the Russian Federation Oksana Lut predicted a record export of Russian agricultural products to the BRICS countries. By the end of 2024, according to her expectations, it may reach the $ 16 billion mark in monetary terms and exceed the result of 2023 by a billion. As the minister clarified, friendly countries continue to be priority markets for Russian farmers.