Russia is producing more soybeans and corn

In 2011 the total gross yield of soybean was 1.7 million tons, in 2010 this was 1.15 million tons, representing a 35 percent increase. Market experts announced their forecasts at the recent conference Prospects of development of soybean culture in Russia, that soybean production in Russia would grow by a factor of five to about 6 million tons per year in 2016. Soybean export stands now at about 15-20% of total soybean production. Russia currently exports only about five thousand tons of soybeans. Imports of soybeans this year should amount to 850 thousand tons compared with 1027 thousand tons in 2011. At the same time, it is worth noting that the import of soybean oil in 2012 is expected to decline by 30% from the 2011 to 15 thousand tons. Corn production in Russia in 2011 amounted to 6 million tons, up by 10% from 2010. Domestic consumption currently is about 3.5 million tons per year, and therefore the country is now actively seeking out new sales markets, because of the great overproduction of this crop. During the 2008/09 financial year the export of corn was at a record high, reaching 750 thousand tons, while previously exports never exceeded 100 thousand tons. In 2011, Russia exported approximately 1 million tons of corn and it is projected that in the 2012 production figures will increase to 8 million tons, while the volume of corn exports could grow by 50% to reach 1.5 million tons.

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