IKAR in Mass and Industry Media

Russian Wheat Exports May Almost Halve on Drought, IKAR Says

Bloomberg

July 29 (Bloomberg) -- Russian 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.

Outbound shipments may decline to 9.5 million metric tons from last year’s 18 million tons, Oleg Sukhanov, chief specialist for grain markets at the Moscow-based institute, also known as IKAR, said by phone today.

“Russia won’t export wheat from state stockpiles, as domestic flour millers and livestock farmers are facing a shortage,” Sukhanov said. “Moreover, we don’t exclude Russia imposing a restrictive grain export duty from 2011 to curb exports by private producers.”

The national wheat harvest may fall 24 percent from the prior year to as little as 47 million tons because of the drought and lower yields, according to IKAR.

08.08.10

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