November 20, 2007

Russia mulls limited grain exports amid harvest

Increasing food prices may push Russia to consider further restriction on grain exports, a senior agricultural official said on Monday (November 19).

Further restrictions on grain exports may be imposed if exports reach 12 to 14 million tonnes, Itar-Tass news agency quoted Agriculture Minister Alexei Gordeyev as saying.

Russia, the word's fourth largest grain exporter, was expected to yield 80 million tonnes of grain harvest in 2007, six to seven million tonnes more than last year.

The government is considering the new measures and consultations with the Grain Union are underway, Gordeyev said.

Last year's grain harvest in net weight had amounted to 75 million to 76 million tonnes, official figures showed.

Russia has been levying a 10 percent export duty on wheat exports and 30 percent on barley exports since November 12, which will last till April 30 next year.