News
01.03.2010
Russia to boost wheat output by 32%
Russian Grain Union Chairman Arkady Zlochevsky said in an interview that Russia, the world's third-largest wheat exporter, plans to increase its exports by 32 percent over the next five years, Bloomberg reported. The official pointed outRussia aims to expand wheat shipments to as much as 25 million metric tons from a forecast 19 million tons this year and will target a larger market share in Asia. Rising exports from Russia will increase competition for the U.S., Canada and Australia, the largest rival shippers. Asian countries account for about 25 percent of global wheat imports, according to the U.S. Department of Agriculture. Indonesia is the world's third-largest buyer and Japan is tied with Algeria as the fourth-largest, according to the USDA.
