April 21, 2009
Slightly lower yields to feebly flatten Russia 2009 oilseed output
Given the normal weather conditions, Russia's production of the main oilseeds crops (sunflower, soy and rapeseed) in 2009 is forecast at 8.5 million tonnes; 200,000 tonnes smaller than the record high crop in 2008 due to slightly lower yields, reports the US Department of Agriculture.
The area sown to oilseeds in 2009 may increase by 20,000 hectares to 8 million hectares. The USDA indicates that yields will be affected by farmers' financial constraints and decreased investments in seeds and agrochemicals. Export tariff on oilseeds are likely to remain in 2008 and exports are forecast at 320,000 tonnes. The domestic crushing industry will sluggishly grow compared to marketing year (MY) 2006-2008 but will definitely increase at an estimated 7.6 million tonnes in MY 2008 to 8.1 million tonnes in MY 2009.
Exports of oilseeds will remain low at 0.3 million tonnes due to export tariffs and high crushers' demand for oilseeds while imports may increase from 0.4 million tonnes to 0.6 million tonnes due to increases in soy imports. However, imports will be limited by the devaluated rouble and by increased import tariffs on soymeal. Exports of meal and oil may increase slightly due to increased crushing and the weak rouble.
For more of the USDA report, please click here.
