Russia to increase grain exports by 18%
Russia one of the world’s biggest grain exporters is expected to increase shipments of all grains by about 18%, this year, as crops rebound, according to researchers from the Russian agency SovEcon.
Deliveries will increase to 19 million metric tonnes in the 2013-14 season starting July 1 from an estimated 16.1 million tonnes in the current period, experts claim.
The grain harvest is primed to climb to between 84 million and 89 million tonnes in 2013-14 from 70.9 million tonnes harvested this season, aided by better weather conditions. At the same time Russia will gather between 50 million and 52 million tonnes of wheat, against 37.7 million tonnes in 2012-13, experts’ figures show. The better harvest will be achieved due to the relatively better weather conditions. Last year Russia experienced a drop in grain harvest due to the extreme hot weather conditions.
Russian grain consumption will rise to 66 million tonnes in 2013-14 from 63 million tonnes this season, according to figures from SovEcon. Stockpiles will increase to 12.3 million tonnes at the end of the coming period from 9.4 million tonnes expected by June 30 of this year.
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