Russian grain: Forecasts down

Agricultural , Commodities Jul 16, 2012 No Comments

Russia grain2012 Russian grain harvest is now estimated at less than 80 million tons by the National Union of grain producers as of July 12. Forecast is down again, since in June, the Department of Agriculture announced a harvest of 85 million tonnes, down from 94.2 million tonnes last year.

Pouring rains in the south, especially at the beginning of July, and severe thunderstorms are the reasons for this adjustment.

Supply inside Russia is not threatened as demand is estimated to 73 million tonnes, however Russia‘s important role on the world grain market may be impacted.

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Pascal Blanc

Pascal has implemented numerous software solutions in the areas of procurement, sourcing, spend management, supplier evaluation and performance. His clients include Fortune 500 companies in Europe, Asia and North America. He is a co-founder of Source & Procure.

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