IKAR in Mass and Industry Media

Russian Grain Exports May Be 23.5 Million Tons, Group Says

Bloomberg

Sept. 8 (Bloomberg) -- Russia may export 23.5 million metric tons of grain in the 12 months that started July 1, according to the country's Grain Union.

The national grain crop may come to 90.3 million tons, with domestic consumption forecast at 69 million tons, union President Arkady Zlochevsky said at a conference in Moscow today. That would leave 25.2 million tons of stockpiles at the end of the season, an "excessive" amount by United Nations recommendations, Zlochevsky said.

Russian traders are exporting record amounts of grain after the government let a ban on overseas deliveries expire July 1. It barred exports in August 2010 after a drought decimated the country's crop. The national crop may come to between 87 million and 90 million tons, against 60.9 million tons in 2010, according to the Agriculture Ministry.

Russian grain exports may come to 20 million tons, Dmitry Rylko, director of the Moscow-based institute for Agricultural Market Studies, also known as IKAR, told the conference. Russia may sell 22 million tons of grain abroad, said Vladimir Petrichenko, director of consultancy OOO ProZerno.

The country will export 18 million tons of grain in the 2011-12 season, 2 million tons more than previously forecast, the U.S. Department of Agriculture's attache in Moscow said. That would restore Russia's position as the third-largest exporter after the U.S. and Australia, according to USDA data.

28.09.11

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