IKAR in Mass and Industry Media

Russia's Grain Harvest May Reach 89 Million Tons, Union Says

Bloomberg

June 8 (Bloomberg) -- The Russian grain crop may reach 89 million metric tons this year depending on rainfall in the Black Earth region, according to Russia's Grain Union. The harvest probably will come to at least 82 million tons, Vice President Alexander Korbut told Bloomberg by phone today. The crop may reach 85 million tons or more ``in average,'' he said. ``The forecast will depend heavily on the situation in the Black Earth area,'' Korbut said. ``There was no rainfall for quite a long time there, and this creates additional risks.''

Most Russian analysts taking part in a discussion at the XII International Grain Round in Gelendzhik today were inclined to estimate the national crop at between 84 million and 90 million tons, Korbut said. The analysts included representatives of Moscow-based researcher ProZerno and the Institute for Agricultural Market Studies as well as the union. ``All expressed concerns with lack of rains in the Black Earth area,'' Korbut said. The region contains Russia's most fertile lands and accounts for 20 percent of national grain production.

Michael Shneyderman, chief financial officer of Black Earth Farming Ltd., told Bloomberg on June 2 the area faces a ``50-50'' chance of drought this year. Roman Vilfand, director of the national weather center, confirmed on June 6 that spring crops in the Black Earth zone were at risk of drought if heat and lack of precipitation were to last for 10 more days. The Black Earth area, running from southwest of Moscow toward Ukraine, includes the Kursk, Belgorod, Voronezh, Lipetsk and Tambov regions.

02.07.11

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