22 May 2018 13:14

Russian grain exports to total 35-40 mln tonnes in new agricultural year - AgMin

MOSCOW. May 22 (Interfax) - Russian grain exports will total 35-40 million tonnes in the new agricultural year - from July 2018 to June 2019 - the head of the Agriculture Ministry's plant cultivation department Pyotr Chekmarev said at a Federation Council meeting on Tuesday.

"It is possible to keep exports in the range of 35-40 million tonnes of grain in the 2018-2019 agricultural year, given that as of April 1, we had record grain reserves of 32.8 million tonnes," he said.

Chekmarev said that Russian grain demand is around 81 million tonnes per year. "There is growth in grain sales," he said. Export potential will be built up through large carryover stocks.

Exports will be encouraged by world grain prices, which Chekmarev said are rising.

"Crops also struggled throughout winter in Europe, so prices have gone up somewhat and I think will rise further according to our hypotheses," he said.

According to data from the Federal Customs Service (FCS), from July 1, 2017 to May 16, 2018 Russia has exported 46.6 million tonnes of grain, up 44.6% on the previous year. Wheat exports have increased 45.7% to 36.2 million tonnes.

The Agriculture Ministry is forecasting that exports for the current agricultural year will total 52-53 million tonnes.