Bloomberg News

Russian Grain Exports Seen Increasing 18% as Crop Rebounds (1)

June 13, 2013

Russia, the world’s fifth-biggest wheat exporter, will raise shipments of all grains by 18 percent in the coming season as the crop rebounds, according to researcher SovEcon.

Deliveries will advance to 19 million metric tons in the 2013-14 season starting July 1 from an estimated 16.1 million tons in the current period, Managing Director Andrey Sizov Jr. said by e-mail today.

The grain harvest is poised to climb to between 84 million and 89 million tons in 2013-14 from 70.9 million tons reaped this season, aided by improved weather, according to SovEcon. Russia will gather between 50 million and 52 million tons of wheat, against 37.7 million tons in 2012-13, estimates from the Moscow-based researcher show.

Russian grain consumption will rise to 66 million tons in 2013-14 from 63 million tons this season, according to figures from SovEcon. Stockpiles will increase to 12.3 million tons at the end of the coming period from 9.4 million tons expected by June 30 of this year.

Russia will rank after the U.S., Australia, Canada and the European Union among wheat exporters this season before rising to third in 2013-14, according to U.S. Department of Agriculture estimates. Wheat for delivery in July dropped 1 percent to $6.76 a bushel on the Chicago Board of Trade at 7:35 p.m. Moscow time.

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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