IKAR in Mass and Industry Media

Russian Wheat-Crop Forecast Reduced to 55 Million Tons by IKAR on Drought

Bloomberg

Russia’s wheat crop will be 3.5 percent lower than previously forecast at 55 million metric tons because of heat and drought, according to the Institute for Agricultural Market Studies, or IKAR.

That compares with a forecast of 57 million tons given on June 28, IKAR’s director, Dmitry Rylko, said in an e-mail today. Russia harvested 61.8 million tons of wheat in 2009.

The Russian grain crop is now estimated at between 85 million and 86 million tons, down from a previous forecast of 87.5 million tons, while the barley harvest will be 19 percent below last year’s 14.5 million tons, he said.

Russia’s Ministry of Agriculture cut its grain forecast by 5.6 percent to 85 million tons on July 5 because of the nation’s worst drought in a decade. Russia harvested 97 million tons of grain last year.

08.07.10

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