Russia's grain exports fall 40%
Russia's grain exports in the current marketing period to April 17 fell 40% on the year earlier because of a poor harvest in 2012 caused by drought, the agriculture ministry said Tuesday.
Exports in the current marketing year, which started July 1, totaled 14.322 million metric tons.
Grain exports in the first 17 days of April totaled 175,000 tons, comprising 63,000 tons of wheat, 28,000 tons of barley, 82,000 tons of corn and 2,000 tons of other minor grains.
In November, the agriculture ministry raised its grain export forecast for the current marketing year to 15.5 million tons from a previous estimate of 10 million-12 million tons, but now says it may reduce it to 14.8 million tons because the pace of exports has slowed as most export contracts have been fulfilled.
Russia's 2012 grain harvest was 71.7 million tons in clean weight, down from 94.2 million tons in 2011.
In the 2011-2012 marketing year, it exported 27.2 million tons of grain.
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(END) Dow Jones Newswires
April 23, 2013 04:36 ET (08:36 GMT)