Asia Bizz: Russian Grain Export Ban Extension To Be Discussed On October 1
The First Deputy Prime Minister Of Russia, Mr. Viktor Zubkov, told Reuters that a decision will be taken on October 1 on the grain export ban, and whether the country should lift it or not — as the country faced severe drought this year. The drought affected the grain yield tremendously and a ban on exports will come into effect from Sunday this week.
Reports say that the ban on exports has been planned till the 31st of December, and on the 1st of October, the government will decide on what to do with the ban. Russian President Dmitry Medvedev stated that the fate of the ban will be on how the crop yield responses to the situation.
Russia produced 97 million tonnes of food grains in the year 2009, and it still needs 78 million tonnes to feed the nation. The President stated that the ban can even go in to the year 2011, but then it still depends on the crop yield, which some may predict due to the drought could be as low as 60 million tonnes.