October 10, 2011

Russia's United Grain exports 360,000 tonnes of grain

Russia's United Grain Company exported 360,000 tonnes of grain in July-September, the company said Friday (Oct 7).

The company resumed exporting Russian grain in July, the first month of grain exports since the ban was lifted on July 1.

The ban was introduced in August 2010 in an effort to reduce grain prices amid a severe drought.

The Company exported about 60,000 tonnes of grain in July; 130,000 tonnes in August; and about 170,000 tonnes in September and plans to export up to 250,000 tonnes of grain in October.

Countries of Northern Africa and Middle East are major consumers of Russian grain, the company said, adding that it is holding talks to start exporting grain to countries of Eastern and Western Africa, as well as Latin America.

In 2011, Russia's grain harvest is expected to increase an estimated 58% on the year to around 95 million tonnes, according to a statement by Russian Prime Minister Vladimir Putin made on Wednesday.

Established in 2009, the United Grain Company is the government's agent for grain purchases aimed at supporting domestic producers and increasing competition.