May 30, 2007

Russia's wheat exports forecast at 8 million tonnes for 2007/2008

Production of wheat in Russia for 2007/2008 is expected at the level of 45 million tonnes as exports can total 8 million tonnes for the season, according to Natalia Bychuk from information-analytical agency APK-Inform.

According to Bychuk, reduction of total offer of wheat in comparison with the current year is estimated at about 1.5 million tonnes as domestic requirements are estimated at the level of the previous year,

For eight months of the current season, Russia exported about 8.5 million tonnes of wheat which can reach to 10 million tonnes.

Carry-over stocks of wheat are forecasted at 4.8 million tonnes level in Russian Federation.