Russia to export 24-25 mln ton of grain this year says Putin

2011-10-26 18:01:39

Russia will export 24-25 million tons of grain in 2011, Prime Minister Vladimir Putin said on Tuesday.

"Today, to avoid oversupply on the domestic market, we began exports. The exports will amount to about 24-25 million tons," Putin said at a meeting with farmers and United Russia party members.

In the future, the government plans to impose certain restrictions aimed at filling the domestic market and replenishing grain reserves.

Today, grain exporters should keep in mind those future restrictions to avoid signing extra export contracts, Putin said, adding that export duty would be raised to keep the bread in the country.

"This means that we will regulate prices in the domestic market this way," he said.

Earlier in October, First Deputy Prime Minister Viktor Zubkov said the government might limit grain exports if they exceeded 24 million tons in the 2011/2012 agricultural year to reign in local prices.

The government banned all exports of grain last year after an abnormal heat that killed a third of harvest. Exports resumed in July, and Zubkov's comments shook markets.

Russia has exported 10.7 million tons of grain as of October 11. Zubkov has said 2011 exports might amount to 18-19 million tons of grain.



RIA Novosti