Russia to double its corn export this year

28-04-2014 | |
Russia to double its corn export this year
Russia to double its corn export this year

In 2013/14 season Russia will double its corn export compared to the last season, it is estimated to increase from 1.93 mln to 4.15 mln tonnes according to the Director of the ProZerno analytical centre Vladimir Petrichenko.

According to him, this may be explained by the rich harvest of corn in 2013, when farmers gathered more than 11 mln tonnes.

He also added that corn prices on the global market were rather high, which kept up the interest of Russia’s agricultural producers in the export of their products.

“High prices were an additional factor that stimulated corn exports, but the key factor, undoubtedly was the heavy yield of corn,” Petrichenko said.

In total he said Russia’s grain export may reach 24.5 million tonnes in the 2013-2014 seasons. According to official forecasts of the Ministry of Agriculture of Russia, the country should export about 22 mln tonnes of grain this year.

However, according to the Federal Customs Service, the country exported 21.5 million tonnes as of mid-April. Major importers of Russian corn are Turkey, Korea, Iran, Germany, Israel, and the Netherlands.

Vladislav Vorotnikov Russian correspondent