August 9, 2011

 

Russia revises up 2011 grain-export estimate
 

 

Russia lifted its grain-export forecast this year to 23 million tonnes, the third time in the last few weeks, as domestic crop recovers from last year's drought. 

 

The country plans to export 20 million to 23 million tonnes of grain this year, Agriculture Minister Yelena Skrynnik said. Russia has exported 2.6 million tonnes of grain so far this year, almost 25% more than a year earlier, she said.

 

Russia resumed grain exports in July after banning overseas sales in August because of the worst drought in at least 50 years. The ministry maintained its grain-crop forecast of 85 million to 90 million tonnes this year, Skrynnik said. Wheat yields are 35% higher than in 2010, according to the ministry.

 

Russia's Agriculture Ministry raised its grain export forecast to 20 million tonnes on July 25, and to 18 million tonnes on July 21.

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