December 28, 2011

Russia raises 2011 grain yield forecast by 1%

The government of Russia has increased the country's 2011 grain crop estimate by 1% to 93 million tonnes in net weight, Prime Minister Vladimir Putin said Tuesday (Dec 27).

On December 20, Deputy Agriculture Minister Alexander Petrikov said that domestic agriculture companies gathered a net weight of 92 million tonnes of grain in 2011.

"The grain harvest is at 93 million tonnes following the weight revision," Putin said, adding that the country's grain export potential has been fully restored.

On Monday, Agriculture Minister Yelena Skrynnik reiterated that Russian grain exports are expected to be at 25 million tonnes in the current agricultural year, which ends on June 30, 2012.

The production growth in the agricultural industry is seen reaching 18–20% in 2011, Putin also said.

In 2010, the country's grain harvest slumped by 35% on-year to 60 million tonnes due to a severe drought.