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Russia: grain exports to decrease
Agrimarket Info ^ | 08/03/2010 09:16

Posted on 08/04/2010 5:52:04 AM PDT by DeaconBenjamin

In the current agricultural year (July 2010 – June 2011), Russia will decrease grain exports to the level of 14-15 mln tonnes as opposed to 21.5 mln tonnes last agricultural year, forecasted Arkadiy Zlochevskiy, the President of the Russian Grain Union.

At the same time, he noticed that grain export volumes will depend on the production volume, which as of to date totaled over 35 mln tonnes.

A.Zlochevskiy said that the Grain Union developed 3 variants of grain balances, according to which the minimum grain export volume will total 11 mln tonnes and the maximum – 19.5 mln tonnes. At the same time, grain production according to the optimistic forecast totals 78 mln tonnes, the average forecast – 75 mln tonnes, the pessimistic forecast – 72 mln tonnes, as opposed to 97 mln tonnes in 2009.

The Grain Union estimates grain carry-over stocks in the country as of July 1, 2011, at the level of 10.4-14.4 mln tonnes in the terms of the optimistic and average forecasts, and 7.9-11.9 mln tonnes in the terms of the pessimistic forecast. As of July 1, 2010, grain carry-over stocks in the country totaled 24 mln tonnes, including 21.7 mln tonnes in agricultural enterprises and procurement organizations.

The President of the Russian Grain Union noticed that the sharp price increase due to the droughts, decreased the export interest.

There are announcements from Egypt companies that Russia divests to supply grains. But all these issues were regulated last week, explained A.Zlochevskiy.

According to data of the Russian Grain Union, in July 2010, the country exported 1.35 mln tonnes of grains.

TOPICS: Business/Economy; Foreign Affairs; News/Current Events; Russia
KEYWORDS: famine

1 posted on 08/04/2010 5:52:06 AM PDT by DeaconBenjamin
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To: DeaconBenjamin

I recently have done a lot of driving around Minnesota and I can report all the crops look just fantastic.

2 posted on 08/04/2010 6:58:04 AM PDT by DManA
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