Russia sees 2011 grain crop over 85 million tonnes
ST PETERSBURG: Russia's grain crop in 2011 could be higher than 85 million tonnes, Deputy Economy Minister Andrei Klepach told reporters on the sidelines of the St Petersburg International Economic Forum on Friday.
"But this is my personal opinion," he said.
The latest official Agriculture Ministry forecast for this year's grain crop is 85 million tonnes after a severe drought cut the country's grain output to 61 million tonnes last year from 97 million in 2009 and 108 million tonnes in 2008.
The crop decline and rising prices forced Moscow to ban grain exports from August 2010 to July 1, 2011.
Analysts and producers believe that with a crop of 85 million tonnes, Russia will have an exportable grain surplus of around 15 million tonnes, although actual exports are expected to be lower.
Copyright Reuters, 2011
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