Grain Union expects record grain harvest, record exports this year
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(c) 2014 Interfax Information Services, B.V.
MOSCOW. Aug 27 (Interfax) - The Russian Grain Union raised the forecast for the grain harvest this year to 104 million tonnes against an earlier estimate of 102 million tonnes.
"A gross harvest of 104 million tonnes in weight after processing is expected," Grain Union president Arkady Zlochevsky said at a press conference in Moscow on Wednesday.
At the same time he did not rule out that the record for the grain harvest set in 2009 might be broken this year. In 2009, 108 million tonnes of grain were harvested. But this will be under favorable weather conditions.
"The prospects for grain are very good, a large harvest led to a fall in prices in July and record-high grain exports," he said. For July, 3.5 million tonnes of grain were exported. "Such exports for the month had never happened before," he said.
According to his forecast, in August, exports might reach 4 million tonnes. For the first 20 days of August, about 2.8 million tonnes have already been exported.
Zlochevsky said that taking the carryover grain reserves into account, which on July 1 amounted to 2.7 million tonnes, and a harvest of 104 million tonnes, grain resources this year could be 117 million tonnes, and domestic demand will not exceed 70 million tonnes. "Therefore, the minimum export potential this season will be 30 million tonnes, which will be an absolute record for all time," he said, adding that the previous record was set during the 2011-2012 agricultural year at 27.4 million tonnes.
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