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Last Updated : 30 July 2010 at 17:00 IST
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Russia grain output hits new record

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MOSCOW (Commodity Online) : World’s largest country, Russia harvested 33 million metric tons of grain to July 29, which is 1.6 million tons more than on the same date last year.

According to country’s agriculture ministry, the reason for the higher harvest so far this year compared with 2009 is the current drought that has forced farmers to begin gathering the crop seven to 10 days earlier than normal.

The grain was harvested on 14.2 million hectares, or 33% of the total area to be harvested, 3.2 million hectares more than a year ago, with the average yield of 2.32 tons a hectare compared with 2.85 tons a hectare on the same date last year.

Wheat harvest to date was 24.6 million tons, 700,000 tons less than a year ago, on 9.6 million hectares or 1 million hectares more than a year ago, with the average yield of 2.56 tons a hectare compared with 2.92 tons a hectare a year earlier.

Barley harvest to date was 4.2 million tons, 900,000 tons more than a year ago, on 2.1 million hectares or 1 million hectares more than a year ago, with average yield of 1.99 tons a hectare compared with 3.02 tons a hectare a year ago.

The ministry has warned that the drought will likely reduce the harvest this year from the 85 million tons it forecast earlier.

The ministry also said grain stocks in the country totaled 24 million tons, including 9.5 million tons in the state intervention fund. Russia's annual grain requirement is 77 million tons.

MCX SILVERMICRO 30 June 2012 contract was trading at Rs 55960 , up Rs. 228 . What's your view on it?
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