Siberia Seeks to Ship Grains to Asia-Pacific Region, Union Says

Siberia, which combines 12 regions in Russia, the world’s third-biggest wheat exporter, is seeking opportunities to ship cereals to the Asia-Pacific region, Russia’s Grain Producers Union said.

Russia now sends just over 1 percent of its grain exports to South Asia, with most cargoes going to the Middle East and North Africa, where the country shipped more than 17 million metric tons of wheat and 3 million tons of barley in the current season through June 30, said Pavel Skurikhin, the union chairman.

Siberia’s average annual grain harvest was 14.5 million tons starting in 2007, including a surplus of 2 million to 2.5 million tons after covering local consumption for a year, Skurikhin said at the 5th Russian-Japanese Investment Forum in the city of Kazan, according to a statement on the union’s website today.

The Siberian Federal District accounted for almost 16 percent of Russia’s grain output last year with a harvest of about 15 million tons, according to state statistics.

Wheat for July delivery fell 0.4 percent to $6.22 a bushel on the Chicago Board of Trade by 12:21 p.m. Moscow time. The grain has dropped 4.7 percent this year.

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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