October 13, 2011
Novorossiisk's Q3 grain exports reach 1.2 million tonnes
Russia's Novorossiisk Cereal Product Plant, managed by state-owned United Grain Company, shipped 1.17 million tonnes of grain overseas between July and September, according to the United Grain Company Wednesday (Oct 12).
The plant resumed grain exports in July, the first month exports were permitted following the lifting of a ban on July 1. The ban was introduced in August 2010 in an effort to reduce grain prices amid a severe drought.
Novorossiisk Cereal Product Plant accounted for over 10% of the total volume of Russian grain exports in Julyâ€“September.
Specifically, the plant shipped 305,000 tonnes of Russian grain in July; 400,100 tonnes in August; and 464,200 tonnes in September.
The plant intends to export no less than 470,000 tonnes of grain in October, the plant's General Director Sergei Shilov said.
Established in 2009, the United Grain Company is the government's agent for grain purchases aimed at supporting domestic producers and increasing competition.