Russia may need to import 5 million tons of grain by the current marketing year’s end next July 1 because carry-over stockpiles will be minimal by then, the National Grain Producers’ Union said Thursday.
The group estimates stockpiles from the prior year at between 21 million and 26 million tons, spokesman Alexei Smorodov said. It projects a 2011 grain harvest goal of 80 million to 85 million tons, enough to satisfy domestic consumption and permit a resumption of exports next year, he said.
“If this goal is reached, there will be no talk about grain imports in the next marketing year,” Smorodov said.
(Bloomberg)
