June 9, 2008

Russian wheat export and import shrinks, corn doubles

Russian wheat exports during the first four months of the year have shrunk to nearly one-third of its levels last year due to export duties imposed by the government.

Russia exported 1.06 million tonnes of wheat in January-April compared with 2.89 million tonnes in the corresponding period last year, the federal statistics service reported Friday (June 9, 2008).

Russia imposed a prohibitive tax on wheat this year (40-percent tax, not less than EUR 105 a tonne).

The export duty will be in effect until the end of the current marketing year June 30.

At the same time, Russia's wheat import during the period fell by more than half, dropping to 86,300 tonnes from 186,200 tonnes a year ago.

Barley imports also registered a sharp drop, falling from 95,400 tonnes in Jan-Apr 2007 to 57,700 tonnes the same period this year.

However, the country's corn import nearly doubled to 92,100 tonnes during Jan-Apr 2008 from 45,300 tonnes the same period last year.