IKAR in Mass Media

Russian grain duty would be levied in April-union

20 февраля 2012 года

MOSCOW, Jan 31 (Reuters) - A duty to curb record grain exports would be imposed from April onward, according to plans now under discussion by the Russian government, the head of Russia's grain industry lobby said on Tuesday.

Arkady Zlochevsky said the Grains Union had approached Prime Minister Vladimir Putin before the new year to ask that the government abandon consideration of the duty. The government raised the possibility of a duty before lifting an export ban on July 1.

"If no duty is introduced, I think we'll call a halt at about 27-28 million tonnes," Zlochevsky told reporters at a conference sponsored by the Institute for Agricultural Market Studies (IKAR), adding that domestic prices would become a limiting factor on exports.

Russia has been a bullish factor on world wheat markets in the last week, first because of speculation that the duty would be imposed to limit exports, then because of hard frosts which caused concern about Black Sea exporters' crops.

Zlochevsky said, however, that snow cover was adequate and frosts were not currently a threat to the crops.

Source: Reuters | #grain | Comments: 0 Views: 39

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