Russia reduces grain exports 7.5% to 19.4 mln tonnes in farm year so far

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Russia reduces grain exports 7.5% to 19.4 mln tonnes in farm year so far - Agriculture Ministry

MOSCOW. Dec 28 (Interfax) - Russia exported 19.425 million tonnes of grain in the July 1-December 23 period, 7.5% less than the 20.983 million tonnes exported in the same period last year, the Agriculture Ministry reported, citing provisional Federal Customs Service (FCS) data.

The current average price of wheat export contracts in Russia this month is $175 per tonne, down 3% in the latest week.

The Agriculture Ministry estimates the grain export potential in the current agricultural year (July 2015-June 2016) at 30 million tonnes, based on a forecast harvest of 100 million tonnes. The ministry reported on Monday that the actual harvest totaled 104.3 million tonnes. It has yet to revise the estimate for the export potential.