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Russia Will Slow Down Grain Exports Through June, USDA Says

Russia’s grain exports will have a “dramatic” slowdown from now through June because the three major exporting provinces have shipped most of their supplies, according to the U.S. Department of Agriculture.

The southern Rostov, Krasnodar and Stavropol regions accounted for 85 percent of Russia’s more than 18 million metric tons of total grain exports in July through December, according to the Foreign Agricultural Service report, dated Jan. 19, on the USDA website.

“Exports, however, are expected to fade during the second half of the marketing year as domestic demand for grain remains strong, and stocks of grain available for export have decreased,” according to the report. Russia’s grain exports are not expected to exceed 24 million tons in the marketing year, it said.

Russia’s grain exports reached 19.5 million tons as of today, a record figure for this time of the year, Interfax cited First Deputy Prime Minister Viktor Zubkov as saying in Stavropol.

Russia’s grain and pulses crop rose 54 percent to 93.9 million tons in 2011 compared with a year earlier, USDA’s report said, citing Russia’s State Statistical Service data. The wheat crop rose 35 percent to 56.2 million tons and the barley harvest more than doubled to 16.9 million tons, according to the report.

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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