November 24, 2011

Russia to export 2.5 million tonnes of grain in November

Russia plans to export 2.5 million tonnes of grain in the current month, according to Elena Skrynnik, Minister of Agriculture of the Russian Federation.

On November 23 (Wed), Skrynnik noted that during recent month and a half in the European and Asian parts of Russia there were stable grain prices. At the same time, the country keeps rather active export rates. Since the beginning of the agricultural year grain exports totalled 13.7 million tonnes compared to 2009/10 marketing year, 9.1 million tonnes.

Russia plans to start exchange trading with concluding of contracts providing the possibility of re-purchase of grains by agricultural commodity producers at the price of sales with compensation of costs for storage and insurance of grains, on November 29, 2011.