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  Wednesday, December 11, 2019
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The Russian government plans to extend prohibitive export duties on grain
The Russian government plans to extend prohibitive export duties on grain until July 1, 2008, Agriculture Minister Alexei Gordeyev told the press on Thursday.

"We are planning to extend the duties until July 1, when the new grain year starts," the minister said.

The government earlier fixed export duties on barley and wheat at 30% and 40%, respectively, rates that were set to expire in late April.

According to Gordeyev, global grain prices continued to rise while domestic grain prices were considerably lower, which compelled the government to introduce prohibitive export duties.

At the same time, Gordeyev said the Russian government would possibly stay away from making grain purchase interventions this year.

"This year, we might not make grain purchases if prices are optimal and fair, first of all, for agricultural producers," Gordeyev said.


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