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July 16, 2013

 

Ukraine, Russia and Kazakhstan may create grain pool
 

 

The press service of the Cabinet of Ministers of Ukraine reported that Ukrainian Prime Minister Mykola Azarov and his Russian counterpart Dmitry Medvedev discussed the idea of creating a grain pool of Ukraine, Russia and Kazakhstan.

 

"We have revisited the idea of creating a grain pool today," Azarov said.

 

The prospect of creating a grain pool was discussed for the first time at the first World Grain Forum in St. Petersburg in June 2009. If formed, it would allow the three countries considered to be the world's major grain exporters, to pursue an agreed-upon trade policy on the global market. But this idea has never been implemented, although the three countries continue the discussion.

 

Meanwhile, according to the statement made by the Russia Deputy Minister of Agriculture, Illya Shestakov during press conference, total grain stocks amounted to 7.2 million tonnes in the current season. Total grain crop may reach 95 million tonnes over the season, which is 24 million tonnes higher compared to the previous season. Therefore Russia export potential may reach 20 million tonnes of grain, depending on the national market prices. Internal demand for grain is estimated at 70 million tonnes, while fodder grain will be in higher demand due higher poultry count. Grain imports may reach 0.7-0.8 million tonnes of grain.

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