Russia posts record grain harvest in 2008

The Russian State Statistical Service reported that Russia's grain crop in 2008 was 108.1 million tonnes, the highest since 1990. The harvest includes 63.7 million tonnes of wheat, 23.1 million tonnes of barley, 6.6 million tonnes of corn, 5.8 million tonnes of oats, 4.5 million tonnes of rye, and 4.2 million tonnes of other grains and legumes.

The government has intensified grain buying to avert price drop and has purchased 6.6 million tonnes by the end of January 2009. The country, in January also this year, exported 12.7 million tonnes of grains, including 11.2 million tonnes of wheat and 1.5 million tonnes of barley. The devaluation of ruble has helped Russian exports but prospects of more grain shipments at the end of marketing year 2008 are bleak due to global recession.

For more of the USDA report, please click here