December 8, 2010

Russia to consider extension on grain bans

Russia may extend a ban on grain exports if weather is unfavorable for crop production, Russia's trade representative in Australia, Yury Aleshin, said on Tuesday (Dec 7).

"It all depends on weather, we are not interested in artificial obstacles to trade but just compelled to do it," Aleshin said on the sidelines of a grains conference.

Russia has banned grain exports until the end of next June due to the worst drought in the country's history during the harvest.

Russia currently has sufficient wheat to meet local demand, and providing freight rate concession to encourage movement of grains from regions with surpluses to those with deficits and to keep local prices under control.

Aleshin added that the country may have to import a total of three million tonnes of feed grains such as barley and corn for animal feed.