Grain prices go down
2011-05-31 16:00:49
Grain prices started nosing down on world markets Monday following Russia’s decision to lift an earlier introduced grain export ban from July 1.
Grain fell an average 4% at Paris’s Euronext exchange, The Financial Times reports. Russia introduced the ban last August in response to a severe drought that destroyed crops.
According to expert estimates, this year Russia – one of the world’s leading grain exporters – can sell up to 10 million tons of grain.