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Russia sets grain export record

March 02, 2012, 12:11 UTC+3
The current season ends in the world with reserves of 211 million tons
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Photo ITAR-TASS

Photo ITAR-TASS

BELOKURIKHA (Altai Territory), March 2 (Itar-Tass) — Russia has set a grain export record. From July 1 to February 25, the country exported 16.9 tons of wheat, general director of the Institute of Agrarian Market Studies Dmitry Rylko told the international winter grain conference in Belokurikha, the Altai Territory, on Friday.

“Never before Russia demonstrated such giant volumes of export,” the expert stressed pointing to the fact that “in this connection the country’s own reserves of grain have considerably reduced over the last months.”

According to Rylko, now, on the contrary, there are high reserves of wheat in the world market. “The current season ends in the world with reserves of 211 million tons,” he said noting that over the last several weeks, the drop of prices of grain has been recorded.

The Altai Territory’s resort of Belokurikha hosts the international winter grain conference unofficially dubbed as “Grain Davos” for the fifth time. It earned good reputation in business circles for making accurate forecasts concerning the market fluctuations and grain prices.

The conference’s organizers told Itar-Tass that it brought together 100 companies from 17 Russian regions, Kazakhstan and Germany.

 

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