Export

Russia Stops most Grain Exports

Mintec Global
Spread the news!

Russia, a major grain exporter, temporarily restricts wheat, barley and rye, among other grains. The aim is to secure demand in the country and prevent an increase in prices for processors and consumers, said the responsible vice-government head Viktoriya Abramchenko in Moscow.

Accordingly, in principle, an export ban on wheat, rye, barley, corn and mixed grain, so-called meslin, will apply from this Tuesday until June 30. “Grain export under quotas based on individual licenses will be allowed,” Abramchenko clarified, however. The stop will apply for sugar and sugar raw material until the end of August.

There are exceptions for exports to the Russian-dominated Eurasian Economic Union and the separatist republics of Donetsk and Luhansk, which split from Ukraine.

Russia is the world’s largest wheat exporter. Neighbouring Ukraine, against which Russia is at war, is also a significant producer. Experts say that disruption in grain exports from both countries could lead to massive price increases in the world agricultural market.