Frosts in the Russian Federation damaged 500,000 hectares or 0.8% of the area under warm crops

Frosts in the central regions of the Russian Federation led to a speculative increase in world wheat prices. We will remind that the authorities of the Russian Federation imposed a state of emergency in the Tambov, Lipetsk, Voronezh and part of the Volgograd regions due to frost.

This year's candidate for the post of Minister of Agriculture of the Russian Federation, Oksana Lut, reported that 500,000 hectares of land will have to be reseeded due to frost damage.

The area of agricultural crops sown for the 2024 harvest in the Russian Federation increased by 300,000 hectares compared to last year to 84.5 million hectares, in particular winter crops - up to 20 million hectares, the condition of almost 95% of which is assessed by the MSG as good. Earlier in the Russian Federation, losses of winter crops due to severe frosts reached 8-10%, but now they do not exceed 1-2%. In addition to frosts, the situation is complicated by a long dry period in the south, where plants really need rain.

At the same time, MSG promised to pay attention to the work of insurance companies in order to provide compensation to bona fide policyholders for damages caused by adverse weather (especially during an emergency) within 10 days.

It seems that the new candidate for the post of minister is insuring himself in case of a reduction in the harvest in 2024 due to frost and drought to 86-90 million tons (92 million tons last year), as well as inciting the situation to increase world prices for wheat, the reserves of which in the country at the beginning of the new season will amount to 20 million tons, which will exceed the 2022/23 MR by 50%.

All news channels in the Russian Federation report that "a low harvest awaits Russia, so the whole world is worried", which indicates a concerted information policy aimed at speculative pressure on prices.