April 17, 2013

Russia may resume wheat exports in the coming weeks as weaker local demand has caused a price drop, said the Institute for Agricultural Market Studies (IKAR).

In 2012, Russia's wheat crop was badly affected by a drought, which significantly reduced exportable surplus.

The USDA estimated Russian wheat production in 2012/13 at 37.7 million tonnes, a drop from 56.2 million tonnes in the previous year.