Bloomberg News

Russia Seen Having No Grounds to Ban Grain Exports in Season

July 12, 2012

Russia has no grounds to ban grain exports this season, according to Pavel Skurikhin, president of the country’s Grain Producers’ Union.

Russia’s grains harvest is seen at below 80 million metric tons in the season that started July 1 because of factors including drought, Skurikhin said today at a news conference in Moscow.

Drought in the country’s south in May and June is now in Siberia’s Altai region, Skurikhin said. Altai was the fifth biggest grain growing region in Russia last year after it harvested 3.9 million tons of grain, state statistics data show.

Other reasons of a lower crop include high cost of loans for farmers and aging agricultural machines, limited usage of fertilizers and pesticides, he said.

Still, the crop will meet domestic demand of about 73 million tons, he said, and carryover stocks are seen at about 15 million tons.

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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