September 25, 2012

Russia's 2012-13 grain exportable surplus forecast up

Russia's 2012-13 forecast of grain exportable surplus has been raised by the Institute for Agricultural Market Studies (IKAR) on Monday (Sep 24) to 12.2 million tonnes, of which 9.5 million tonnes is expected to be wheat, based on updated harvest data.

IKAR also increased its forecast for Russia's 2012 grain harvest to 70 million tonnes from its previous forecast of 69 million tonnes. Under that forecast it estimated 2012-13 exportable surplus at 10 million tonnes.

Since the start of 2012-13 marketing year, which began from July 1, Russia, one of the world's key wheat exporters, has exported seven million tonnes of grains, including legumes, IKAR added.