Increasing of wheat production volumes and the growth of grain crops supplying from the Russian Federation are the major drivers in development of the Black Sea region, declared the analyst of trading department at Macquarie Group, Daryna Kovalska during her report at the conference Grain & Maritime Days in Odessa, on May 24.
According to the expert, to date the condition of winter crops in Russia is good, however the discouraging weather forecasts, including the deficit of precipitations, can make some adjustments, and in terms of the pessimistic scenario the future harvest and export volumes can significantly reduce.
D.Kovalska said that the situation in the current year is very similar to the conditions observed in 2012 and 2013. The average air temperature continues rising, and the weather forecast is pessimistic. Also, the similar situation takes place in Ukraine. Overwintering period of crops demonstrated great indices, however there is some risk of reducing of corn yield (down 10%), due to the precipitation deficit. As for wheat, the share of yield losses can become even higher.
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