7 Oct 2009 13:53

Russia increases wheat exports by 150% in 8 mths - FCS

MOSCOW. Oct 6 (Interfax) - In the first eight months of 2009, Russia's export of wheat went up by 150% year-on-year, the Federal Customs Service (FCS) said in its statistics.

The statistics said that exports of wheat came to 9.8 million tonnes ($1.6 billion) against 3.9 million rubles ($1.1 billion) in the same period 2008.

Experts on the grain market said this increase was the result of a lower export base in 2008. In the first half of 2008 (until June 30), the export duty on wheat was 40% but no less than 105 euro per tonne, which limited exports overseas.

At the same time, the FCS said, imports of grain to Russia decrease. Imports of wheat in January-August came to 72,600 tonnes ($18 million) against 131,300 tonnes ($44.1 million) during the same period of 2008), corn - 34,800 tonnes ($57.3 million) against 320,200 tonnes ($154.6 million) and barely - 26,800 tonnes ($3.7 million) against 117,100 tonnes ($44.6 million).

For the first eight months of 2009, Russia imported 154.5 million in grain cultures, down from 371.5 million in the same period of 2008.