No Signs of a Russian Export Ban…. Well not just yet.
Posted by Anderson Grain Marketing on Aug 8, 2012 in AGM News | 0 comments
Russia has today eased grain buyers concerns by rejecting an opportunity to introduce restrictions on exports – at least for now – to protect domestic supplies amid forecasts for a disappointing harvest.
After an intense meeting beginning this morning Russia’s Food Security commission have, according to Agrimoney.com, concluded that there are ‘no grounds to ban export’ and have therefore posptponed there feared imposition of export curbs.
Arkady Dvorkovich, The Russian Deputy Prime Minister added that they simply “don’t need to take any measures just now – measures to intervene on the market and regulate export. There are no grounds to do so”.
HOWEVER…
The Deputy Prime Minister did add that “tariffs are indeed possible for any commodity… In this calendar year I do not forsee any scenario under which this could happen. Could it happen next year? I don’t know”.
An official forecast for the Russian domestic grain harvest for the 2012-season was then pegged at 72-75M/T.
More information is due from the committee later in the day…. Watch this space.
To view the article in full, please see:
http://www.agrimoney.com/news/russia-rules-out-grain-export-curbs—for-now–4843