Russia Capable Of Exporting 30M Tons Of Grains Next Season

Russia is capable of exporting 30 million tons of grains next season but it depends on market demand, the President of Russian Grain Union said Wednesday.

"Russia can easily export 30 million tons of grains next season, but it depends on how much the market can purchase next season. The market could purchase only 20 million tons," said Arkadiy Zlochevsky, president of Russian Grain Union.

The season starts in July and ends in June.

Zlochevsky added that Russia will export 20 million tons in 2009-2010.

Russia already has stock piles of 10 million of grain to export next season, he said.

Zlochevsky said Russia has the capacity of exporting 30 million tons of grains annually given the current infrastructure.

"We export [Grain] to more than 60 countries including Middle East, South Africa, Latin America, and South East Asia," he said.

Source: CME Group