MOSCOW, June 13 (Xinhua) -- Russia will remain the world's largest wheat exporter in the current and next agricultural years, continuing to account for more than a fifth of global supplies, according to Russian state-owned news agency RIA's calculation based on data from the Food and Agriculture Organization of the United Nations (FAO).
FAO reported Thursday that global wheat exports in the 2024-2025 agricultural year will drop by approximately 8 percent to reach a four-year low of 193.3 million tons, and will only recover by 3.8 percent to 200.6 million tons in the next season.
"The Russian Federation is likely to maintain its position as the world's leading wheat exporter," FAO analysts wrote.
According to the organization's forecasts, wheat exports from Russia in the 2024-2025 agricultural year will amount to 42.6 million tons, slightly higher than the previous three-year average of 42 million tons. Next year, this indicator will rise to 46.5 million tons. Thus, Russia will supply just over 22 percent and 23 percent to the world markets respectively, while in the previous three agricultural years, it supplied slightly less on average -- 20.7 percent.
Exports of the European Union, the world's second-largest wheat supplier, will drop to 24 million tons in this agricultural year after an average of 32.7 million tons in the previous three seasons. Exports will recover to 30.7 million tons next year.
Canada placed in third this year. According to FAO forecasts, its export will increase by 19 percent compared with the average of previous seasons to 26 million tons, and will slightly decrease to 25.5 million tons next year.
