RUSSIA will have enough grains to export more than 23 million metric tonnes this year, Grain Union president Arkady Zlochevsky said.
Out of a crop of 90 million tonnes, there will be a surplus of 40 million tonnes, with 13 million tonnes put into stockpiles, Zlochevsky said. That leaves 27 million tonnes left over. Russia’s
Last year, Russia banned shipments after the worst drought in half a century curbed production.
Exports are limited because of "infrastructure", Zlochevsky said.
A grain crop of 90 million tonnes would be 48% higher than last year’s 60.9 million-tonne crop, as estimated by the State Statistics Service. Russia exported 3.98 million tonnes of wheat in the 12 months ended June 30 after the government banned shipments last August. Russian wheat exports will be 16 million tonnes in the 2011-12 marketing year.
Russia’s government is trying to support farmers to assure they have money for plantings in the winter. State purchases will start in September, and state trader United Grain may spend 2 billion rubles (€47.8 million) to buy grain from farmers, Zlochevsky said. Farmers will have a right to buy it back from the stockpiles at the same price later in the season.
Russia’s corn harvest of 5.8 million tonnes will allow for exports this season as domestic demand stands at three million tonnes.
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