The cost of Russian wheat fell to the lowest level in seven years

The reason for this was a very good harvest. 12.Jul.16 4:15 AM By Elena Nekrasova Photo Toinnov.com    328

According to the Institute for agricultural market studies, the average cost of metric tons of Russian wheat exported through Black sea ports, is $ 165. This value is the minimum over the last seven years. However, experts say that after the reversal, and the start of the harvest in other regions of the country the price of wheat will increase significantly. Cost reduction has been observed for four weeks. This is due to the fact that the harvest in the South of Russia brought a very large crop, which no one expected (45.7 centners per hectare). According to the Ministry of agriculture of the Russian Federation of 11 July of the current year in the whole country threshed winter wheat and spring wheat area of 2.2 million hectares ( 1.8 million acres in 2015), collected 9.8 million tons of grain ( 6.9 in 2015), the average yield of 45.4 centners per hectare ( 37.5 in 2015). Cereals and legumes on 11 July this year, gathered and threshed from the area of 3.2 million hectares (2.7 in 2015), and produced 13.8 million tons of grain (10 million last year) and an average yield of 43.4 tons per hectare (37,1-last year).

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