Russian Grain Exports Buoyant

During the first four months of a new agricultural year (July-October), Russia exported nearly 10 mln tonnes of grain as opposed to 13 mln tonnes of all previous agricultural year.

Comparing the first three quarters of 2008 with a year ago however, things look quite different. Russia actually shipped 20% less wheat in the period January-September 2008 compared to the same period of 2007, the Federal Customs Service (FCS) said in a statement.

Russia exported 6.6 million tonnes of wheat for a total of $1.782 billion in January-September 2008 compared to 8.02 million tonnes for $1.8 billion in the first nine months of 2007. The reduction was the result of an export duty on wheat that remained in effect until June 30, the agency said.