Russian grain stocks stood at 23.5 million tonnes by May 1, down 18.8 percent year-on-year, according to preliminary data from official state statistics service Rosstat, obtained by Reuters on Thursday. The difference narrowed from April 1, when the stocks were 26.2 million tonnes, 20 percent lower than on April 1, 2010.
Analysts have said Rosstat data are not wholly reliable, as the service gives only estimated figures for medium and large farms employing over 100 people and no data for farms with less than 100 workers. Grain stocks at agricultural enterprises were 9.3 million tonnes by May 1, a decline of 29.1 percent year-on-year, and at procurement and processing companies they were 14.2 million tonnes, down 10.3 percent, the data showed.
It also showed the grain stocks were distributed rather unevenly. The Central, Volga, Urals, Siberian and Far Eastern federal districts stocks were lower than a year ago, while North-western, Southern and North Caucasus districts had more grain by the same date in 2010.
Russia was hit by a severe drought last summer, which cut its grain output by a third to 61 million tonnes. It imposed a ban on grain exports from August 15, 2010 to July 1, 2011. Officials have since said the ban may be extended until 2012. International traders believe Moscow is likely to extend the ban until the end of September, but may release some wheat in July to relieve hefty southern stocks.