June 21, 2013

Russia's grain stocks decline by 34%

As of June 1, Russia's grain stockpiles fell by 34% against the past year.

Inventories held by big farms, procurement and milling companies fell to 11 million tonnes from 16.8 million tonnes a year earlier, the Moscow-based Federal State Statistics Service said in an e-mailed statement.

Large agricultural producers held 4.5 million tonnes, compared with 6.4 million tonnes, while procurement and milling companies had 6.5 million tonnes, down from 10.4 million tonnes, it said.

Procurement and milling companies had about 4.5 million tonnes of wheat stockpiles, down from 7.8 million tonnes a year earlier, according to the statement. The total of milling wheat fell to 3.6 million tonnes from 6.3 million tonnes.