Russians make big grain buy
NZPA-Reuter Washington
The Soviet Union has bought a further 1.5 million tonnes of American grain and soyabeans to help offset losses from poor crops, the American Agriculture Department has said. The department said the latest purchase brought the Soviet Union close to the 15 million tonnes limit for this year under an agreement between the two countries.
Under the five-year agreement, the Soviet Union can buy up to 15 million tonnes of American grain this year and eight million tonnes next year.
Agriculture Department analysts believe the Russians may already have bought close to the eight million tonnes limit for the next year of the agreement.
The Soviet Union has been forced to make huge corn and wheat purchases because of a sharp fall in this year’s harvest following hot, dry weather in important grain-growing regions. The department last week estimated that Soviet grain output would fall to between 165 and 195 million tonnes from the record of 237 million last year.
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Press, 16 July 1979, Page 8
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167Russians make big grain buy Press, 16 July 1979, Page 8
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