Slovakias 2011 grain harvest to cover domestic demand - chamber.

By bne IntelliNews August 18, 2011
Slovakias 2011 grain harvest will cover domestic demand although farmers reported lower-than-expected crop, SITA news agency reported citing Milan Semancik, the chairman of the Slovak Agricultural and Food Chamber (SPPK). So far farmers have harvested 1.4mn tonnes of wheat, 460,000 tonnes of barley and 2.23mn tonnes of other grains and rapeseed. Semancik did not comment on future prices but most economists expect them to be higher than in the previous year. We remind that in 2010 and early-2011, the agriculture ministry intervened on the grain market, offering a total of 80,112 tonnes of barley. The intervention was an effort to revive the local agriculture food market and to calm down food prices. In 2010, agricultural product prices increased 14.2% y/y on average, with prices of crop products rising by 29.9% y/y and prices of animal products climbing by 1.1% y/y.

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