January 29, 2013

Russia's wheat inventory drops 40% on-year

As of January 1, 2013, Russian wheat stocks at farms, procurement and processing companies, excluding small farms, fell 40% for the last year to 13.3 million tonnes.

SovEcon agricultural analysts said on Monday (Jan 21), citing data from the Federal Statistics Service.

Hot and dry weather in 2012 slashed the wheat harvest by a third in Russia, historically the number three world exporter, prompting it to finish its harvest campaign early, and quickly depleting its stocks and exportable surplus.