According to the estimates of experts of the Ministry of Agriculture of the United States, the volume of grain exported to world markets from Russia will fall this year, while supplies from Ukraine, on the contrary, will grow. The US Department of Agriculture has reduced forecasts for the volume of Russian grain exports during the current marketing year (July 2014-June 2015) by about 10%.
The department's report entitled "Grain and trade on world markets", presented here in the original language, states that the volume of exports from the Russian Federation will fall to 20 million tons from the previous forecast of 22 million tons. In addition, representatives of the Ministry also reported an increase in the forecast, which concerns the supply of Ukrainian grain to the United States by 3%, or 11 million tons to the level of 30 million tons.
"The export of Russian goods has been reduced due to the introduction of the duty, which will enter into force on February 1. Estimates regarding goods from Europe and the Ukrainian state are growing, because now the countries occupy an advantageous position, as they benefit from a decrease in the level of presence of the Russian Federation," the report of the American Ministry states.
As you know, the Russian government introduces a new duty on grain exports at the level of 15% of the value of the goods, which should stop a sharp jump in prices within the market.