August 5, 2009
Russia July grain exports up 60 percent
Russia exported nearly 1.3 million tonnes of grain in July, up 60 percent on-year, according to Rusagrotrans analytical centre.
The export growth is attributed to a large amount of grain stocks leftover from the 2008-09 harvest, the centre said. Grain exports are expected to total 1.8 million tonnes in August, the same level in August 2008.
Rusagrotrans said grain exports will decline in the new agricultural year, which began on July 1, 2009, due to a 12-percent decline in wheat trade on the global market resulting from large harvests in several importing countries.
The lower harvest in Russia this year could also lead to a further reduction in exports.
Rusagrotrans forecasts the gross grain harvest will not exceed 93 million tonnes this year, though Russia is expected to remain as one of the world's top three wheat exporters due to more competitive Russia grain prices.
