Russia. Ministry sees no reason for grain export ban extension
2011-05-26 18:47:57
Russia's Economic Development Ministry believes it will not be necessary to extend the grain export ban imposed last summer beyond July 1, Deputy Minister Andrei Slepnyov said on Thursday.
"We see no reason to prolong the embargo," said Slepnyov, adding the final decision will be made in the nearest future following calculation of grain stocks.
On Wednesday, First Deputy Prime Minister Viktor Zubkov said the decision to lift the ban could be made in the next few days.
The worst heat in the history of meteorological records hit Russia last year, causing a drought and crop failures that forced the government to prohibit wheat, barley, rye, corn and flour exports for the first time in the post-Soviet period. Initially, the ban was in force until December 2010, but was later extended to June 30, 2011.
In February, Agriculture Minister Yelena Skrynnik said resumtion of exports could be discussed in October, when it was clear how much grain Russia had harvested. She said Russia needed an 85 million ton harvest to lift the embargo.
In early spring, Zubkov said he did not rule out an extension beyond the end of 2011. Market analysts also said they expected the embargo to be extended to 2012.