Russia mulls export restriction amid grain harvest

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Russia is considering further restriction on grain exports due to hiking food price, a senior agricultural official said on Monday.

Further restrictions on grain exports may be imposed if exports reach 12 to 14 million tons, Itar-Tass news agency cited Agriculture Minister Alexei Gordeyev as saying on Monday. Russia, the word’s fourth largest grain exporter, was expected to record a 80-odds million tons of grain harvest in 2007, six to seven million tons more than last year. The government is considering the new measures and consultations with the Grain Union are underway, Gordeyev said.

Last year’s grain harvest in net weight had amounted to 75 million to 76 million tons, official figures showed. Russia has been levying a 10% export duty on wheat exports and 30% on barley exports since Nov. 12, which will last till April 30 next year. (people.com.cn)

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