In 2014/15 MY Russia to reduce harvest of the major oilseeds by 5.2% - Rusagrotrans

Source

APK-Inform

1197

In the season-2014/15 the general production of three major oilseed crops in Russia may total nearly 12.9 mln tonnes, a decrease of 5.2% compared with the record harvest of last MY (13.6 mln tonnes), but up compared with the indices of all previous seasons, declared Evgeniy Rubinchik, Head of the analysis of agrarian and industrial markets of the strategic management department at Rusagrotrans CJSC, on October 7 during his report at the international conference “Oilseeds & Oils - 2014" in Barcelona, Spain.

In 2014/15 MY sunflower seed production in Russia may reduce by 14.6%, to 9 mln tonnes. Rapeseed production volumes will slightly decrease. As for the general harvest of soybeans, there is expected a significant increase by 53% compared with last season (1.63 mln tonnes), to the level of 2.5 mln tonnes, said the expert.

Also, he added that such significant rise of soybean harvest will lead to some reduction of the oilseed imports, and generally lower the total imports of oilseeds to Russia.

The export of oilseed crops from Russia has its growth potential due to rather favorable prospects of soybean production in the Far Eastern District, and gradual reduction of the export duties on oilseeds after the Russia's entry to the WTO. However, the excess global balances of oilseeds and unfavorable world prices would prevent the export volumes growth, said E.Rubinchik.

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