Russian Grain Production Seen At 92 MMT
Russian grain production this season is pegged at 92 MMT, according to the Agrarian Market Conjuncture Institute (IKAR).
"In spring, we were expecting this year's grain harvest to be up to 97 MMT. We have reduced that forecast to 92 MMT. The main reason for lowering the forecast is drought," they say.
The figure co-incides quite nicely with SovEcon's latest estimate for a harvest of 90-95 MMT. Production of 92 MMT would represent a drop of around 15% on last year.
Despite lower output this year, Russia will likely remain an aggressive exporter for the forseeable future. IKAR estimates reserves of last year's grain to be around 18 MMT.
"In spring, we were expecting this year's grain harvest to be up to 97 MMT. We have reduced that forecast to 92 MMT. The main reason for lowering the forecast is drought," they say.
The figure co-incides quite nicely with SovEcon's latest estimate for a harvest of 90-95 MMT. Production of 92 MMT would represent a drop of around 15% on last year.
Despite lower output this year, Russia will likely remain an aggressive exporter for the forseeable future. IKAR estimates reserves of last year's grain to be around 18 MMT.