Also last year, Russia became the world’s biggest exporter of grain.
Russia: More than Just an Oil Producer | Morningstar
“The Russian agriculture sector is turning into an exporter, exporting products to not only China, but south east Asian countries as well,” he explained. “The country now one of the cheapest places to produce ham and pork. Accessing the Chinese agricultural sector represents a major growth opportunity for Russia.”
Estimates of Russian wheat production have also increased as perfect growing conditions could lead to yields once again reaching last year’s record highs. With increased production, Russia could become the world’s largest exporter for the first time, surpassing the European Union and the US, said Nitesh Shah, director of commodities strategies with ETF Securities. Russia last year became the world’s biggest exporter of grain, at more than 34 million tonnes. Total Russian grain production hit a record 119 million tonnes.