Russia’s exports of grain are restricted by problems with mutual settlements, chartering and insurance of seagoing vessels
Russia’s first own grain carrier is to be built in late 2025 — early 2026, RF Minister of Agriculture Dmitry Patrushev said at the Russian Grain Forum.
He reminded that the designing of the first domestic bulker for grain transportation is being jointly designed by Rosagroleasing, Ministry of Agriculture, USC and some of the major grain exporters. According to the Minister, domestic cargo fleet for transportation of agricultural products is among the strategic tasks today. Preferential loans can be foreseen for the construction of grain carriers.
Dmitry Patrushev emphasized that in 2022 Russia accounted for over 13% of the world's gross wheat harvest and almost 16% world's gross harvest the barley. The plan for this season is to supply more than 55 million tonnes of grain to the world’s market including about 45 million tonnes of wheat. The scope of supply can be even higher. In the current situation, the restricting factors are problems with mutual settlements, chartering and insurance of seagoing vessels.
The new season harvest is expected to reach at least 123 million tonnes. The Minister emphasized that Russia’s grain exports contribute a lot to the global food security. Russia is going to continue supplying grain to the traditional buyers and the countries with the greatest needs. Systemic development of cooperation is being discussed with the partners, particularly the creation of grain hubs in importing countries and joint grain processing enterprises in Russia. The work on transition to payments in national currencies is also underway. The share of such supplies is to reach 30% in the mid-term.
The work on opening new markets and updating of importers’ requirements to Russian grain continues together with the Rosselkhoznadzor. Promising markets in this are Algeria, Saudi Arabia, Indnesia, Vietnam, Philippines, Nigeria and Morocco.
According to IAA PortNews’ earlier reports, the Ministry of Agriculture initiated the development of design documentation for construction of bulkers in December 2022. The Ministry estimated the need of Russian exporters at 61 grain carriers, including 27 vessels of 40,000 dwt and 34 vessels of 60,000 dwt”.