CCTV.com - CNTV English - CCTV News

Ban on grain export a painful step for Russia

08-06-2010 10:59 BJT

By Igor Serebryany, Zhang Dailei

MOSCOW, Aug. 5 (Xinhua) -- Prime Minister Vladimir Putin announced Thursday that Russia would impose a temporary ban on grain exports due to hot weather and drought, driving the benchmark wheat futures to a 23-month high in global markets.

A  burnt car stands at the roadside in the burnt out village of Mokhovoye, Lukhovitsi municipal district, some 130 kilometers from Moscow, August 3, 2010. Firefighters struggled Tuesday to contain the worst wildfires to hit Russia for decades, as a relentless heatwave and campfires left burning by the public sparked hundreds of new blazes.(Xinhua/AFP Photo)
A burnt car stands at the roadside in the burnt out village of Mokhovoye, 
Lukhovitsi municipal district, some 130 kilometers from Moscow, August 3, 2010. 
Firefighters struggled Tuesday to contain the worst wildfires to hit Russia for 
decades, as a relentless heatwave and campfires left burning by the public sparked 
hundreds of new blazes.(Xinhua/AFP Photo)

Russian experts believe the ban is a hard decision for the world's leading grain exporter.

A HARD DECISION

"Due to the abnormally high temperatures and drought, I consider it feasible to impose a temporary ban on exports from Russia of grain and other farm produce made out of Russia's grain," Putin said.

He decided to offer farmers who are suffering in the disaster 35 billion rubles (about 1.17 billion U.S. dollars), ten billion rubles (335 million U.S. dollars) of which they do not need to repay while the rest will be transfered as a three-year privileged credit.

"Of course, we are interested in earning money from grain sales but now the priority task is to support the producers," Putin said.

The government on Wednesday decided to postpone grain interventions on the market previously planned on Aug. 4, before fresh data on the regions' needs came out.


Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program