December 28, 2005

Russia's exports 6.9 million tonnes of wheat 

Russia's wheat exports amounted to 6.9 million tonnes in the first half of the 2005/06 marketing year (July-June), compared with 4.5 million tonnes in the same period last year, an analyst with Russia's Institute of Agrarian Markets said Wednesday citing preliminary customs statistics.

"After record-high levels in August-October, we saw declining volumes in November-December," Igor Pavensky said Tuesday. "But monthly volumes still exceed one million tonnes due to high exports of wheat and barley," he added.

Russia's total grain exports amounted to 8.4 million tonnes in July-December, up from 5.2 million a year earlier, Pavensky said.

The share of foreign traders on the Russian market is rising. Pavensky said that they might occupy a third of Russia's grain export market, up from 19 percent in 2004/05 and 16.7 percent in 2003/04.

Among the biggest foreign firms on the Russian market are Glencore, Cargill, Louis Dreyfus, Bunge and Nidera.

Russia's 2005/06 grain exports are forecast at 12.4 million tonnes, up from 9.1 million tonnes last season, Pavensky said. Wheat exports are expected to hit 10.5 million tonnes, while barley around 1.5 million tonnes.