Russia: Ministry of Agriculture is not considering possible imposition of the grain ban – N.Fedorov

Source

APK-Inform

2252

The Ministry of Agriculture of Russia is not considering any possible imposition of the ban on grain exports, due to significant worsening of the RUR/USD exchange rates, which makes supplies on foreign markets as more profitable compared with sales on the domestic market of the country, declared Nikolai Fedorov, Minister of Agriculture of the Russian Federation, on December 15.

According to him, such variants are extremely undesirable: reputational losses will be significant, but the profits are not enough.

At the same time, N.Fedorov added that the Ministry plans to use other mechanisms to regulate the grain market to protect the interests of domestic consumers, including crediting of grain purchases for livestock enterprises, grain millers and bakers by state-owned banks, and grain purchasing interventions.

Also, N.Fedorov added that the Ministry keeps the forecast of Russian grain exports in 2014/15 MY at the level of 30 mln tonnes.

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