December 3, 2010

World market to feel Russian grains' absence

The world market has already felt grain deficit at the level of 15-20 million tonnes, due to the absence of Russian, Ukrainian and Kazakh grain export volumes, said the vice president of the American Wheat Association.

At the same time, Vins Peterson, stated that Russia can renew own positions on the world grains market rather fast. According to him, the ban will cost the certain funds for Russia. The future year crop volumes decrease may become the payment, stated Edward Allen, the leading economist of USDA.

Next year crop volumes will be less compared to the volumes, which could be without the grain export ban imposition, stated the economist. On its turn, Oleg Aksyonov, the representative of the Ministry of Agriculture of the Russian Federation, stated that the grains export ban, imposed by Russia from August 15, 2010, was the right decision.

It was accepted first of all, in order to provide the sufficient grains volumes to the country in the conditions of the hardest summer droughts. According to Arkadiy Zlochevskiy, the President of Russian Grain Union, Russia is able to renew own lost position on the world market, if it is able to offer grains at the lower prices.