Black Sea 2013-14 grain exports to rebound

moscow/kiev / reuters The Black Sea region’s top three grain producers — Russia, Ukraine and Kazakhstan — will see output and potential export volumes restored in the 2013-14 marketing year with improved weather conditions benefiting crops.

The three countries were hit by drought in 2012 which slashed their combined grain crop by one-third to 130 million tonnes, sending prices to record highs.

Ukraine is seen as the main driver for growth in 2013-14, with some help from Kazakhstan. However, Russia’s exportable surplus will be limited by low carry-over stocks and plans to replenish strategic stocks.

During the 2013-14 marketing year their combined exportable surplus is expected to rise to at least 48 million tonnes from 44 million tonnes seen for 2012-13, early forecasts show.

The combined crop is expected to be 149 million tonnes in 2013, up 15 per cent, Reuters’ calculations show.

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