Russian grain export estimate in October raised to 3.4 mln tonnes - industry expert
MOSCOW. Oct 14 (Interfax) - Russia may export 3.3 million-3.4 million tonnes of grain in October, CJSC Rusagrotrans' deputy head of strategic marketing Igor Pavensky said.
The forecast was raised from the previous estimate of 3 million tonnes due to the continuing profitability of exports, given substantial ruble weakening to the dollar and the outlook for higher wheat prices, Pavensky told Interfax. As of October 13, the volumes loaded at deepwater ports reached 1.58 million tonnes compared with 1.69 million tonnes in September.
As in previous months this season, October is on track to set a volume record: the previous record for October was in 2011, when grain exports totaled 2.88 million tonnes.
Russia exported 951,900 tonnes of grain the first eight days of October, 23.7% more than in the first eight days of September (769,300 tonnes). Wheat accounted for 684,100 tonnes of the exports or 71.9% of the total, down from 642,300 tonnes or 83.5% in the first eight days of September. Barley accounted for 179,200 tonnes or 18.8% of the total, up from 11.6% in September. Corn exports totaled 73,700 tonnes of 7.7% of the total, up from 4.2%.