Thursday, 25 December 2014

Russia’s Agriculture Ministry raises grain harvest estimate to 105 million tons

Russia's overall grain and grain legumes harvest has reached over 105 million tons in net weight, Agriculture Minister Nikolai Fyodorov said on Wednesday, citing updated data
Russia's grain harvest this year will be the second largest after the country's record grain crop of 108 million tons in 2008.
Russia's Agriculture Ministry earlier estimated the overall grain harvest in 2014 at 104 million tons in net weight and gross harvest at 110.8 million tons.
"This year, we can confidently say that we'll gather over 104 million tons of grain in net weight. I would very much hope this would be 105 million tons," the minister said at the time.
Russian farms have also thrashed over 2.5 million tons of soya beans and over 1.45 million tons of rapeseed, the minister said.
"These are the maximum results for the entire history of growing these crops in Russia," the minister said.
Russia's grain harvest in 2013 totaled 91.3 million tons in net weight and grain exports in 2013-2014 increased by 62 percent from the previous marketing period of 2012-2013 to 25.4 million tons.
Russia's grain exports are expected at 30 million tons in the marketing year of 2014-2015. However, the Russian government's plans to impose grainexport duties to halt rising prices on the domestic market amid a weakening ruble and increasing grainexports by traders to boost their foreign currency earnings may reverse these figures.

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