September 24, 2012
Russia likely to limit grain exports if prices soar
In the event that domestic grain prices show significant increase, the Russian government could limit grain exports in September-November.
"The grain export ban is an issue linked with the domestic grain price dynamics. Currently, we see this trend… It is possible that the government will decide to limit grain exports amid such dynamics," Economic Development Minister Andrei Belousov told reporters Friday (Sep 21).
On Wednesday (Sep 19), Russia's Agriculture Ministry reduced the higher limit of the forecasted grain harvest to 73 million tonnes from the earlier projection of 75 million tonnes. The country's export potential is expected to be at 10-14 million tonnes.
