Russia exported a record amount of corn — experts

Russia this year has broken the record for the export of grain corn.

According to "Interfax" CEO of the Institute for Agricultural Market Studies (IKAR) Dmitry Rylko, the 2011 maize crop was also a record. According to him, in this agricultural year has already exported about 1.6 million tonnes of maize. "It is likely that before the end of the season (until July 1, 2012), exports will exceed 1.7 million tons," — he said.

According to Rylko than high yield, export of grain to the favorable world market conditions. "The demand for corn due to reduced supplies from the United States was very high, and he dictated prices in the world market", — he explained.

The largest buyers of Russian maize were Spain, Israel and Turkey, which account for more than half of all exports.

However Rylko believes that this kind of grain exports this year could be more, but the quality is not always consistent with the requirements of the world market. He stressed that in its performance through Russia has become quite a significant player in this market. For the first time a significant volume of exports fell by two new deep-water terminal in Novorossiysk and Taman.

As the head of ICAR, according to official estimates, the corn crop in Russia in 2011 amounted to 6.9 million tonnes (3.1 million tonnes in the drought in 2010, according to the Federal State Statistics Service). But experts have questioned this figure. They estimate the harvest of 6.6-6.7 million tonnes.

Rylko said that the growth in exports of corn did not affect the domestic market. The demand is provided in full grain in the Central Black Earth were even his excesses, he added.

Speaking on estimates of the corn crop this year, Rylko said that the initial forecast was within ICAR 7,000,000 tons. "But because of the dry weather, we will reduce it to what extent — is hard to say," — he said.

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