September 15, 2011

Russia's grain exports reach seven million tonnes

Russia exported over 7.2 million tonnes of grains since July 1, declared Viktor Zubkov, First Vice Prime Minister of the Russian Federation, on September 13.

The rates of grain export trading are the highest during recent five years while the monthly export volumes will not exceed the level of three million tonnes of grains in the coming months of this year.

V.Zubkov thinks that 20 million tonnes of grain exports will not be the limit. He said that the prices on the world grain market are favourable for increasing Russian grain exports. He also added that as of September 13, Russian agrarians harvested grains in the country throughout almost 70% of the planned areas, and produced 74.1 million tonnes of grain, up 2% compared to the relatively prosperous 2009.

The dynamics confirms the initial forecast of the grain harvest at at least 90 million tonnes, he said. Taking carry-over stocks, reserves, public intervention fund, and the outlook for harvesting of the remaining crop areas into account, grains of the harvest-2011 can fully meet the domestic needs of the country and restore the export potential.