The Agricultural Ministry of Russia plans to impose a separate quota on export of wheat within overall grain export limit starting from February 15, 2022. This opportunity was discussed during a meeting with grain exporters held at the Ministry last week, informed Коммерсант.
The additional measure may prevent another cycle of price increase for flour and bread amid problems with grain crop in central Russia, Volga and Ural FDs.
“The Ministry expects the grain production to reach 127 mln tonnes, and export - 34.5-35 mln tonnes, including 31.5 mln tonnes of wheat. 14 mln tonnes of wheat will be exported in the second half of the season. The balance of this volume will serve as a base for a size of quota for wheat export. This year, for the period from February 15 to June 30, the export of wheat, rye, barley and corn outside the EAEU was limited by the quota of 17.5 mln tonnes”, - the message said.
Eduard Zernin, Chairman of the Board of the Union of Grain Exporters of Russia, confirmed the fact of this meeting. According to him, the only planned innovation is to calculate the volume of wheat export within the frames of the general quota basing on the needs of the domestic market as of the start of 2022. At the same time, he stressed that the quota will be introduced for all grains at the same time and according to the same principle of distribution among the participants (based on the volume of supplies in the first half of the season).
The Ministry of Agriculture of Russia did not comment on the regulation of grain exports in the current season.
