Russian wheat exports plunge 80% in Jan-July due to ban
MOSCOW. Sept 9 (Interfax) - Russian wheat exports fell by nearly 80% in the first seven months of 2011 due to the ban on grain exports that was in effect from August 15, 2010 to June 30, 2011.
Wheat exports tumbled to 2.435 million tonnes worth $605.2 million in the seven months, from 10.2 million tonnes worth $1.728 billion a year earlier, the Federal Customs Service reported on Friday.
Most of this wheat was exported in July, the first month after the end of the export ban. In the preceding months, there were shipments of tiny amounts of grain under a special government resolution (for Russian embassies abroad, food aid to other countries, etc.).
Wheat imports, meanwhile, also tumbled, dropping to just 800 tonnes worth $0.5 million in the seven months from 74,100 tonnes worth $11.2 million in the same period a year earlier.
However, barley exports rose to 286,000 tonnes worth $106.4 million in the first seven months of 2011 from just 500 tonnes worth $0.2 million a year earlier, and corn exports increased to 104,900 tonnes worth $84.6 million from 30,500 tonnes worth $47.9 million.