Russia-subsidy to export corn.

RUSSIA.

CORN EXPORT SUBSIDY.

Russia has exported 10 million tons of wheat since May of this year, the Ministry of Agriculture, are now demanding a further exports to stabilize the local market.

Subsidies are being paid of US$140 per ton, to encourage more product for export after this years bumper harvest.

The total grain harvest increased by 2 million tons in 2008, to a figure of 102.5 million tons, including 62.5 million tons of wheat and 22.5 million tons of barley.

Total exports are expected to be 14 million tons of wheat, 2.1 million tons of barley, 150,000 tons of corn and 65,000 tons of rye and rice.

There are plans of a massive Irish investment, into Russian arable farming in the very near future.

On large consortium, is selling properties in South America, to re-invest on farm properties in Russia.