US cuts Russia’s 2016–2017 wheat export forecast to 28 mln tns

MOSCOW, Apr 12 (PRIME) -- The U.S. Department of Agriculture has worsened its forecast for Russia’s wheat exports in the 2016–2017 agricultural year to 28 million tonnes from 28.5 million tonnes due to problems in relations between Moscow and Ankara, the authority said in a report late on Tuesday.

But it increased the forecast for wheat harvest in Russia to 72.529 million tonnes from 72.5 million tonnes in the agricultural year, which runs from July 1, 2016 through June 30, 2017.

The world wheat harvest may amount to 751.357 million tonnes this agricultural year, down from the previously expected 751.074 million tonnes and 735.229 million tonnes harvested in the previous period, the authority said.

Russia’s Agriculture Ministry expects the country’s wheat exports flat on the year at 25–30 million tonnes.

Turkey changed the rules of imports of some types of agricultural products for processing in the country, including wheat and sunflower oil from March 15. Russia was not listed as a country that has a right for duty-free supplies. The Russian Agriculture Ministry said the decision may lead to full suspension of exports of wheat, corn, beans and rice to Turkey and a redirection of these supplies to other markets.

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