March 28, 2008

Russia grain supply falters by 6 percent on March

Russia's grain stocks fell by 6.3 percent on March 1 to 23.2 million tonnes, the state statistics service reported Thursday.

Farmers has a total of 14.075 million tonnes of grain, 0.7 percent less than a year ago, while grain enterprises held 9.12 million tonnes, down by 13.8 percent on-year.

Russian farmers are believed to be holding on to their grains, hoping for higher prices in the future.