October 29, 2012

Russia's 2012-13 grain export forecast down to 12.1 million tonnes

Russia's 2012-13 grain export forecast has been lowered by the International Grains Council (IGC) to 12.1 million tonnes from a September estimate of 12.7 million tonnes.

The wheat export forecast was raised to nine million tonnes from 8.5 million tonnes.

The IGC cut Russia's grain harvest forecast to 68.1 million tonnes from 68.6 million tonnes.

The wheat harvest forecast stands at 39 million tonnes after 56.2 million tonnes last year.

The IGC expects total grain imports to rise to 1.2 million tonnes from 500,000 tonnes last year. The domestic grain consumption forecast fell to 61.9 million tonnes from 62.5 million tonnes, while the grain carryovers forecast declined to 8.3 million tonnes from 9.4 million tonnes.