Russian Grain Crops Decline, Export Ban Likely
Jul 19, 2012 06:36 AM EDT | By Sriranjini
Russian grain crops are likely to fall in 2012-13 as a result of drought.
Last year, Russia saw a record crop of 94.2 million tons, out of which 27.6 million tonne was exported. However, this year, the grain crop may decline to around 82 million tonnes.
Russia is the third biggest exporter of wheat this is likely to drop from last year's 56.2 million tonnes to somewhere between 47 and 49 million tonnes.
"Russia's grain exports have slowed this year due to drought in the south and a rail disruption in the Black Sea port of Novorossiysk area because of flash floods", says Oleg Rogachev, first deputy chief executive officer of Rusagotrans, a transport company. July shipments are expected to be 1.2 million tons, Rusagrotrans estimates. That compares with 2.4 million tons in 2011, according to state statistics data.
Like Us on Facebook
A top grain analyst predicts that the grain exports could be even lower than expected.
"The outlook for the harvest is worsening," says Andrei Sizov Sr., CEO of SovEcon. In all the key producing regions, except the Central Federal District, production is expected below last year's."
Many now believe that Russia may ban grain exports to maintain domestic supply, like it did in the year 2010. But, government officials have refuted this belief.
"There will be a meeting on the grain market," said Arkady Dvorkovich, Deputy Prime Minister of Russia, to Reuters Tuesday. "I see no basis for limiting exports."
Since the export ban in 2010, Russia has been trying to assure markets that such a thing is unlikely to happen again.
But, flash floods in the south and a drought in the Black Sea region has destroyed about 3.4 percent of the grain crop. This, along with a Goldman Sachs report, has prompted the belief that a ban is inevitable.
The country's largest retailer pleaded guilty to six counts of violating the Clean water Act. The retailer was found guilty and fined over 110 million dollars for the illegal disposing of fertilizer , bleach and pesticide compounds into the sewer system, among other environmental violations.
A lot of information on the sugar and calories contained in alcohol is hidden behind fancy advertising, eye catching labels and deceptive tag lines such as 'lite' or 'diet.' Alcohol offers plenty of fun and plenty more calories. Here area few facts I bet you did not know.
There is a high alert mode for people suffering from allergies to peanuts, as some of the biggest and most important walnut crops around the world have been damaged, which could cause providers to “cheat” their way through and send out peanuts instead of walnuts – which could lead to many tragic mishaps across the planet.
Egg yolks have come under a barrage of attacks from fitness experts and weight watchers recently. The sweet yellow center of an egg has been criticized for its cholesterol and fat content. Though the egg yolk may not sit well in the bowels of weight watchers, the sweet ball of yellow has many benefits that go understated. Here are common myths about the egg yolk busted:
The benefits of food go beyond just physical well being into a deeper dimension of emotional well being. Certain foods have actually been found to reduce stress and anxiety in human beings. Eating has been shown to bring a sense of calm onto a person.
Leaders of some of the biggest U.S. corporations, from Coca-Cola Co (KO.N) to Johnson & Johnson (JNJ.N), unveiled a campaign on Tuesday to reduce the nation's healthcare costs, urging their peers to embrace wellness programs to improve employee health.