No grain shortage in Russia expected - Dvorkovich

The Russian government is not worried about the possibility of a grain shortage, Deputy Prime Minister Arkady Dvorkovich said.

"We have no concerns about a shortage of grain. I think that we will be able to get through the next few months in normal fashion," Dvorkovich said at a briefing after a Thursday government meeting.

But, he said, carryover inventory will not be huge. "This means that an awful lot will depend on next year's harvest," he said.

Asked about the winter grain situation, Dvorkovich responded that in various regions the situation is developing variously, but in general "the planted fields are larger than last year." "We can rely on a respectable harvest," he said.

There is no one grain export plan, since in Russia "business is not planned and specific exporter companies engage in exports on a free basis."

Interest in exporting grain has waned appreciably after prices on world markets and the Russian market evened out, he said. "Exports are rising at low rates," he said.

Thanks to governmental grain market interventions, "a stabilization of prices in the Asian part of Russia was achieved, and in the European part of Russia the rate of price growth has slowed substantially," Dvorkovich said. "I expect stabilization in the next few weeks," he said.

All rights reserved by Rossiyskaya Gazeta.

We've got more than 2 million followers on Facebook. Join them!

This website uses cookies. Click here to find out more.

Accept cookies