July 20, 2012

 

Russia's 2012 grain production almost meet market forecast

 

 

Russian Ministry of Agriculture's forecast for 2012 general grain production is quite close to the Federal Service for Hydrometeorology and Environmental Monitoring's (RosHydroMet) forecast of 83-86 million tonnes, declared the press-service of the Ministry of Agriculture of the Russian Federation on July 17.

 

The said forecast may reach the level 80 million-85 million tonnes, but these figures are constantly updated, according to the Ministry of Agriculture of the Russian Federation.

 

Taking into account the carry-over stocks in the beginning of the season (16.8 million tonnes), the forecasted grain production allow fully meeting the needs of the domestic market (nearly 71.5 million tonnes). Besides, the export potential is formed at the level of nearly 16 million tonnes.

 

In general, subject to availability of stocks of the grain intervention fund, the present resources are quite sufficient to maintain the stable price situation on the domestic market. In the next few weeks the dynamics of prices on the domestic market will be determined by the dynamics of grain receiving, changes of the world market situation and the rates of Russian grain exports.

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