“Egypt has cut grain purchases from Russia due to the change of the government. Now, apparently, the purchasing volumes will be restored,” Zlochevsky said.
After Egypt cut the purchases, Turkey became the major Russian grain buyer for the first time in 2013-2014 agricultural year. Farmers expect growth of Egyptian buyers’ interest in September-November, when the country’s government fulfills the domestic purchasing program and starts buying grain abroad, he said.
Given good weather conditions, the grain harvest can amount to 104 million tonnes, Russia’s second largest ever, translating into an export potential is no less than 30 million tonnes.
The Agriculture Ministry grain harvest forecast stands at about 100 million tonnes, while on Tuesday the ministry said the country’s grain exports in the 2014-2015 agricultural year can hit a record of 27.5-30.0 million tonnes.