Russia: Ministry of Economic Development lowered the forecast of agricultural production volumes in 2012

The Ministry of Economic Development of Russia changed the forecast on reduction of the agricultural commodities production in the Russian Federation in 2012. According to the updated forecast of the socio-economic development of the Russian Federation for 2013-2015, promulgated at the Ministry's web-site, the reporting reduction in 2012 will total 5.4%, as opposed to 4.4% of the previous forecast.

The decrease is caused by updating of the index of Federal State Statistics Service (Rosstat) for 2011 from 122.1% to 123%, and reduction of the yield estimations for certain types of agricultural crops (sugar beet - from 45.5 mln tonnes to 41 mln tonnes, sunflower seed - from 7.8 mln tonnes to 7.7 mln tonnes, etc.), due to the effect of weather conditions on the rates and terms of the harvesting campaign, and specifying of the forecast indices for production of animal commodities.

As for the forecast of the dynamics of changes of the agricultural production volumes in Russia in 2013, it remained unchanged - an increase of 6.4%.

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