Russia may restrict grain exports if volumes exceed 24 mil mt: report
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London (Platts)--11Oct2011/1218 pm EDT/1618 GMT
Russia may restrict grain exports if exported volumes over the agricultural year that ends June 30, 2012, exceed 24 million mt, First Vice Prime Minister Viktor Zubkov was quoted as saying by Russian news agency Ria Novosti. Zubkov also said the government is considering imposing a "floating" export duty to restrain exports, according to the report. Since the agricultural year began July 1, Russia has exported 10.7 million mt and the volumes could easily reach 18-19 million mt by the end of 2011, Zubkov was quoted as saying. Russia expects its grain harvest to come in at about 90-92 million mt, with domestic demand estimated at around 72 million mt.
The duty would be designed to help restrain any potential increase in domestic grain prices, Zubkov said.
Russia's grain harvest last year was just 61 million mt as the country suffered from severe drought. As a result, exports of grain were banned until July.
Russia has previously said it expects to export about 20-21 million mt of grain this year.
Elza Turner, elza_turner@platts.com
11.10.2011, 1873 просмотра.
