XM does not provide services to residents of the United States of America.

Altai becomes fifth Russian region to declare emergency due to crop problems



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Altai becomes fifth Russian region to declare emergency due to crop problems</title></head><body>

MOSCOW, Sept 20 (Reuters) -Altai on Friday became the fifth Russian region to declare a state of emergency this month due to crop problems caused by extreme weather, saying too much rain had waterlogged the soil.

The Tomsk, Novosibirsk, Kemerovo and Krasnoyarsk regions have all declared state of emergencies this month, a formal designation which allows farmers to claim compensation and insurance payments.

In 2023, the combined harvest of grain and legume crops in the Altai region amounted to almost 5.0 million tons.

Taken together, the five affected regions accounted for about 8.0% of last year's grain harvest in Russia, the world's largest wheat exporter.

"Having collected detailed information from agricultural producers, the Hydro-meteorological Center and other experts, colleagues in government proposed introducing a state of emergency in the territory of the region, associated with excessive soil moisture," Viktor Tomenko, the regional governor, said on his official Telegram channel.

"At today's meeting of the commission a decision was made (to introduce a state of emergency) - the necessary documents were prepared", he added.

Over a dozen Russian grain-producing regions have been hit by extreme weather, from early spring frosts to drought in recent months. The bad weather has affected an area of more than 1.1 million hectares, officials say.

Many southern regions, key for grain production, are suffering from drought, which could lead to sowing problems for the new crop.

Despite the losses, Russia has maintained its official grain harvest forecast at 132 million metric tons, a 10% drop compared to last year, and its export forecast at 60 million tons.



Reporting by Olga Popova
Editing by Andrew Osborn

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.