October 11, 2007

Russia cuts grain harvest forecast by nearly 6 percent

Russian Agriculture Minister Alexei Gordeyev Wednesday (October 10, 2007) cut his forecast for full-year grain output, but kept predictions for export potential in place, the Interfax news agency reported.

Gordeyev now expects the country to harvest 80 million tonnes of grain in 2007, compared with his previous estimate of 85 million tonnes, a 5.8 percent cut. Nevertheless, up to 12 million tonnes will still be available for export.

Russia harvested 76.4 million tonnes of grain in 2006.