Russia may abolish grain export quota
Russia, the world’s largest wheat exporter, is considering abolishing its grain export quota.
Russia, which usually sets up grain export quotas from mid-February through the end of June to ensure its domestic needs, has produced its largest grain crop ever in 2022 at an estimated 150 million tonnes, including more than 90 million tonnes of wheat, which also would be a record.
Russia, which has been at war with Ukraine after invading the neighboring country in late February, has had trouble exporting its grain crop, in part due to sanctions imposed by NATO countries in response to the invasion.
“The harvest is big, so, in principle, probably, yes, there are no prerequisites to impose any quantitative restrictions at the moment,” Viktoria Abramchenko, Russia’s deputy prime minister, told Interfax.
Read also
Palm oil prices are expected to continue rising after a short-term correction
Georgia reduced wheat imports in April
Brazilian soyabean oil exports jump 47% amid record crop and weak domestic demand
Zimbabwe plans new grain import levies to strengthen food security
Global vegetable oil production to hit record high again – USDA
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon