June 22, 2012

Russia's grain inventory may fall 12%

As of June 1, the grain supplies of Russia at large agricultural holdings, procuring firms and millers dropped 12% to 16.8 million tonnes against the previous year, government figures showed.

Inventories held by the biggest farm producers rose 5.9% to 6.4 million tonnes, the Federal State Statistics Service said in an e-mailed statement. Stocks at procuring companies and millers declined 20% to 10.4 million tonnes, said Rosstat, as the service is known.

Grains held at procuring companies and millers included 7.8 million tonnes of wheat, with milling wheat accounting for 81%, Rosstat said. Stocks also included one million tonnes of barley, 624,000 tonnes of rye, 475,000 tonnes of corn, 125,000 tonnes of oats, 110,000 tonnes of rice, 47,000 tonnes of buckwheat and 38,000 tonnes of millet, the figures showed.