Bloomberg News

Russia Exported About 2.1 Million Tons of Grain in July

August 03, 2012

Russia exported about 2.1 million metric tons of grain last month, according to Rusagrotrans, the country’s biggest grain rail carrier.

July’s shipments exceeded Rusagrotrans’ expectations for 1.6 million tons, Igor Pavensky, the company’s head of analytics, said by e-mail. Exports were 2.5 million tons a year earlier, he said.

Shipments were the biggest for the month for any year except 2011, when exporters had stocks packed and ready to go at ports in anticipation of the end of an exports embargo imposed the previous August after crops wilted amid Russia’s worst drought in a half century.

While Russia’s main grain growing areas, including parts of the Southern, Volga, and Siberian federal districts, have been hit by drought this year, the government has said there’s no need for export restrictions this year.

Rusagrotrans lowered its grains crop forecast to 77.4 million to 75.2 million tons for 2012-13, while the wheat harvest may reach 42.5 million tons. The company had forecast last month 82 million to 85 million tons for all grains and 47 million to 49 million tons for wheat.

The barley crop may be 14.6 million tons, while the corn crop is seen at 7.2 million tons, according to Pavensky.

Grain exports may reach 13 million tons, down from a July estimate of “at most” 18 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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