Chairman of Russian Grain Union: There is no shortage of grain in Russia

'There is no shortage of grain on the domestic market at the moment,' Chairman of the Russian Grain Union Arkady Zlochevsky announced on Monday at a press conference entitled Grain shortage and the stabilization of the flour and bread market. He said 'there is enough grain in the country for an uninterrupted supply of grain to the domestic market even if we maintain the current high level of grain export.'

'Even if we continue to export such large volumes of corn (about 2 million tonnes a month) there will still be at least 4 million tonnes of wheat in Russia by the time the new season starts, that is around July 1,' Mr Zlochevsky stressed. 'That is more than enough for our own needs,' he added.

When asked about media reports that a rise in bread prices is inevitable, Mr Zlochevsky said 'bread prices have not risen for at least 10 days.' Moreover, he said, 'grain elevators are clearing out the grain reserves by putting last year's grain reserves on the domestic market in order to stabilize domestic grain prices. Rumours about a grain shortage are probably being spread for political reasons rather than economic ones,' he concluded.