October 13, 2010

One-third of Russian grain crop destroyed by drought

This summer's severe drought and forest fires destroyed 13.3 million hectares of Russia's grain crop, the Russian Agriculture Ministry said on Tuesday (Oct 12).

The loss amounted to a third of Russia's expected harvest. Previous estimates had placed the figure at 10.8 million hectares of destroyed crop.

Total financial losses due to the drought amounted to RUB41.5 billion (US$1.3 billion), the ministry said. Russia's domestic needs of 77 million tonnes will still be met regardless, Agriculture Minister Yelena Skrynnik said in September.

The Russian government's ban on grain exports had triggered a domestic and global rise in grain prices.