Mumbai, May 3 (Commodities Control): Russia's IKAR agricultural consultancy has cut its forecasts for Russia's wheat crop to 91 million metric tons from 93 million tons and wheat exports to 50.5 million metric tons from 52 million tons, it said on Friday.
IKAR cut Russia's overall grain crop forecast to 142 million tons from 146 million tons and its total grain exports outlook to 64.5 million tons from 68 million tons. In March, it had forecast Russia's 2024/25 grain crop to be 147 million metric tons, of which 93 million tons would be wheat
IKAR is currently taking the middle ground, recently updating its 2023/24 wheat export estimate to 52mmt. The quota for grain exports from the Russian Federation to states that are not members of the Eurasian Economic Union will be valid from February 15 to June 30, 2024.
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