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    Russia's heat wave no cause for grain deficit, higher bread prices - Grain Union

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    The abnormal hot and dry weather in Russia will not cause a grain deficit and bread price growth in the central regions of the country as the harvest will ensure all domestic and export needs, Russia's Grain Union president said on Monday.

    The abnormal hot and dry weather in Russia will not cause a grain deficit and bread price growth in the central regions of the country as the harvest will ensure all domestic and export needs, Russia's Grain Union president said on Monday.

    Arkady Zlochevsky said that nine million out of 48 million hectares of seeded area had been damaged.

    "This is very much. But all the rumors that there will be a shortage or there is not enough grain, that the harvest is catastrophically small and we cannot feed ourselves, have no basis," Zlochevsky told a news conference, adding that domestic grain prices had started a slow growth.

    "But the drought will not influence bread prices," he said, explaining that grain prices do not influence bread prices.

    He also said that such temperatures had not been registered for 130 years.

    "This year the drought influenced winter and summer crops. The winter crops are spoiled. The summer crops were seeded on the spoiled winter fields and they also died. The drought hit the interests of farmers in those regions seriously," Zlochevsky said.

    Zlochevsky said that the 85-million-ton forecast by the Agriculture Ministry was reasonable.

    "We agree with such a forecast. If the abnormal weather continues, there might be a further decrease. But even if there is a decrease, the gross yield at any warehouse will exceed domestic consumption. Besides, we should not forget that we have record carry-over stocks of 24 million tons at the start of the season from July 2010. We preserve the general resource potential for the season to ensure domestic and export needs of 20 million tons anyway," Zlochevsky said, adding that Russia's domestic consumption amounted to 77 million tons per year.

    MOSCOW, July 12 (RIA Novosti) 

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