Russia will produce 75 million tons of grain this year, which is in line with the most modest forecasts made earlier, Russian Minister of Agriculture said Thursday.

"We started with expectations at last year's level of 94 million tones. Until recently, our forecast was 75 to 80 million tons," Nikolai Fyodorov told the federal TV news channel Russia-24.

The minister said that 80 million tons was an over-optimistc figure and the more real one would be closer to 75 million tons.

In 2010, following a severe drought, Russia produced 60 million tones of grain and the government imposed a temporal ban on grain export.

In 2012, Russia possesses carryover stocks of 17 million tons and 5 million tons of grain in the intervention fund.

"Our domestic demand equals to 70 million tones, so our people and the country are protected," Fyodorov said, adding that his ministry has been "categorically against" any restrictions on grain export.

According to the ministry, Russia can export up to 12 million tons of grain currently.

In recent months, dry winds and severe drought have caused emergencies in some regions of Russia, the world's leading grain exporter. Local reports predicted that the country was likely to see losses in the agriculture business and soaring domestic food prices.