June 9 2003, 15:50

There is no grain deficit in Russia - Russia's Grain Union Head

Speculations about grain deficit and increase of bread prices are completely ungrounded, Head of Russian Grain Union Arkady Zlochevsky told reporters June 9.

Even if exports keep maximal - 2 million tonnes a month - grain stocks in the country are sufficient, he said. Media publications about grain deficit have rather political than economic grounds, he said.

"They forget that prices for grain and flour were for a long time dropping, though bread prices did not decrease", Zlochevsky said. "Now the prices for wheat and flour are only returning to the level of 2000-2001", he noted, adding that the prices are actually lower than three years ago.