March 23, 2011
 

Russia unable to reopen grain exports earlier than expected

 

 

On March 18, Viktor Zubkov, First Vice Prime Minister of the Russian Federation, said that he does not see any likelihood to open grain exports earlier than the stated term.

 

He also added that previously, the Russian Grain Union prepared an offer to the government to cancel the current grains export embargo.

 

According to the official, should that happen, the government will analyse what it is about, with regards to volumes, grain varieties, buyers and the necessity for such actions at the moment. The minister noted that the government is accountable for the stable situation with grains not only as of March 1, but also other future dates. Therefore, it is essential to manage the real stocks, resources and prices for bakery products and mixed fodder. As a result, there is no likelihood to open grain exports immediately.

 

The minister also reminded that the present embargo is valid till the end of June 2011. When the terms expire, the government will analyse the situation of grain crop volumes on the world markets and Russia's. Only then will the authorities accept the decision about the possibility to terminate the grain export ban.