Russia may limit grain exports of over 24 mln tons - deputy PM

2011-10-12 14:37:06

Russian government will introduce a grain export duty, if exports will exceed 24 million metric tons in 2011, First Deputy Prime Minister Viktor Zubkov said on Tuesday.

"I ordered to work out and submit to the government a document, which will allow the government to introduce limits on grain export which exceeds the volume that I have mentioned (24 million tons) to make prices on the internal market stable," Zubkov said, adding he spoke about a restrictive export duty.

Russia, once the world's third largest grain selling nation, has exported 10.7 million tons of grain since July 1, when the authorities lifted the grain export ban imposed last August by the government scared that an abnormally hot and dry weather that destroyed over a third of Russia's grain harvest would lead to local shortages.

Zubkov also said that the country would export 18-19 million tons by the end of 2011, if exports growth persists.


RIA Novosti