Bloomberg News

Russia's State Grain Trader to Export 1.5 Million Tons

June 22, 2012

United Grain Co., the state grain trader, sees its grain exports rising to as much as 1.5 million metric tons in the season that ends on June 30.

The season starting on July 1 may not be as favorable as 2011 in terms of weather conditions and high grain price volatility may also limit shipments, Irina Skrynnik, the company’s spokeswoman, said by phone from St. Petersburg. Shipments last season were hampered after Russia had the worst drought in at least 50 years in 2010, which prompted the government to stop grain exports from Aug. 15, 2010 through June 2011.

Russia’s grain harvest reached 94 million tons last year, including 56 million tons of wheat, according to the state statistics service. The country’s grain exports were at record levels this year, reaching about 26 million tons by June 7, according to agriculture ministry data.

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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