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IKAR in Mass Media

Russia again rules out grain export limits

09 октября 2012 года

MOSCOW, Oct 9 (Reuters) - Russian Agriculture Minister Nikolai Fyodorov continued to dismiss the prospect of grain export restrictions on Tuesday after a poor harvest, despite a further cut to his estimate of exportable material from the key global wheat exporter.

Briefing reporters on the harvest campaign to date, Fyodorov forecast that the total grain crop by clean weight would reach 71 million tonnes or slightly more, up from a previous government projection of 70 million tonnes.

But he cut his forecast of Russia's exportable grain surplus to 10 million tonnes from an earlier range of 10-12 million tonnes, and a substantial drop from last year's actual exports of 27 million tonnes.

Despite the massive fall in the amount of grain Russia could export after meeting its domestic needs, Fyodorov rejected persistent market speculation that Russia would limit exports in any way.

"I am a categorical opponent of any such restrictions, and this position is good for the country," Fyodorov told reporters, echoing comments from Deputy Prime Minister Arkady Dvorkovich, who oversees farm policy

Hot and dry weather in Russia this year has slashed yields by a quarter just as the United States experienced its worst harvest in more than half a century, causing a surge in global prices for wheat and corn.

OFFICIALS AT ODDS

In contrast to 2010, when Russia imposed a one-year grain export ban after a far worse harvest, the new government appointed this year has stated repeatedly that any physical limits or special export tariffs should not be imposed because they would further force up global market prices.

The government has not spoken with one voice, however, with Economy Ministry officials calling for restrictions to be imposed if grain exports continue at a rapid pace.

Since the start of the 2012/13 marketing year, which began on July 1, Russia has exported about 8.4 million tonnes of grains, including 6.7 million tonnes of wheat, Russia's Institute for Agricultural Market Studies (IKAR) said on Monday.

Reeling off figures on the current harvest, Fyodorov said that farmers had so far gathered 71 million tonnes of grain by bunker weight, including 39 million tonnes of wheat.

The total harvest, by bunker weight, would come in at 74-75 million tonnes when it is completed.

"After cleaning we expect a harvest of 71 million tonnes, perhaps a little more," Fyodorov said.

Of the total, he said 40 million tonnes would be wheat - at the bottom of an earlier forecast range of 40-42 million tonnes.

He also said he expected Russia to export about 200,000 tonnes of sugar beet this year.

Source: Reuters  |  #grain   |  Comments: 0   Views: 39

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