Russian Grain Prices Could Advance

In 2003, prices for Russian grain could grow due to the loss of 50 percent of Ukraine's winter crops, Russian Minister of Agriculture Alexey Gordeyev declared today at a meeting of the government commission for agricultural issues.

However, members of the commission believe that uncontrolled exports of Russian grain to Ukraine may bring damage to the domestic market. At the same time, according to some estimations of the ministry, grain production will be 70m tons this year, which will satisfy the demand on the domestic market and enable Russia to export grain.

Ukraine is Russia's competitor in terms of grain exports.