Wheat exports may fall by almost half in the current agricultural year because of a drought and a local shortage of the grain, the Institute for Agricultural Market Studies said Thursday.
Outbound shipments may decline to 9.5 million metric tons from last year’s 18 million tons, said Oleg Sukhanov, chief specialist for grain markets at the institute, known as IKAR.
The national wheat harvest may fall 24 percent from the previous year to as little as 47 million tons because of the drought and lower yields, according to IKAR.
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