July 21 2003, 14:39 RBC

Russia runs no risks of grain deficit - agriculture minister

As of today Russian farmers have harvested 8 million tonnes of grain, Russia's Deputy Prime Minister, the Minister of Agriculture Aleksey Grdeyev said on July 21 speaking to a meeting of country's agricultural authorities in the town of Zhukov.

As of the beginning of July the stock of milling grain in the country constituted 10 million tonnes, he said. The new crop is going to constitute 70 million tonnes, despite 20 to 25 percent lower crop in southern regions, which will result from bad weather conditions. However, these losses will probably be compensated by better crops in Altai Crai (West Siberia), Saratov, Orenburg oblasts, Tatarstan and some other regions.

Gordeyev said a tonne of milling wheat will cost this year about 3,000 roubles (30 roubles = $1), which will allow for balance of the interests of producers and consumers. "If it [the balance] is distorted, the government will find the ways to properly regulate the prices", he said.