Russia reduces 2013 grain forecasts

It has also revised the grain export forecast from to 20 million tonnes to 18 million.

“Given production of 90 million tonnes of grain, exports may total 18 million-20 million tonnes,” the head of the ministry’s department for regulating the agricultural market, Mikhail Orlov said.

“In light of adverse weather conditions throughout the current year, the forecast for the grain harvest, according to our experts in the agricultural regions, will not be more than 90 million tonnes,” Nikolai Fyodorov the Minister added.

The total grain resource this year is expected to be 97.9 million tonnes, including 7.2 million tonnes in inventories as of the beginning of the year and 0.7 million tonnes in imports. With domestic grain consumption totalling 70.1 million tonnes.

That results in a grain export potential of 18 million-20 million tonnes, Orlov said.

Drought reduced Russia’s grain harvest to 70.9 million tonnes in 2012, down from 94.2 million tonnes in 2011. Russia exported 15.7 million tonnes of grain last year, down from 27.1 million tonnes the previous year.