Russia sees 2014/2015 grain exports at 27.5-30mn T

MOSCOW: Russia's Agriculture Ministry said on Tuesday it expected 2014/2015 grains exports at record-high 27.5-30 million tonnes, up from its previous forecast of 25-27 million tonnes.

Grains crop is seen at at least 100 million tonnes this year, unchanged from earlier estimates, the ministry said in a statement.

The ministry held a meeting on state interventions on the grains market on Tuesday and said state purchases would start in August. Russia plans to buy 5 million tonnes of grain on the domestic market in the 2014/15 agricultural year to replenish government stocks, the ministry said last week.