CCTV.com - CNTV English - CCTV News

Russia may reconsider time of lifting ban on grain export

08-07-2010 08:33 BJT

MOSCOW, Aug. 6 (Xinhua) -- The Russian government will decide whether to extend or reduce the length of grain export embargo after the fall harvest, Russian First Deputy Prime Minister Igor Shuvalov said on Friday.

"A bit later after the crops are harvested, after we calculate how much and of which quality has been harvested, and how much grain we will need for domestic consumption, only then we will have to think about the possibility of export," Shuvalov was quoted as saying by the RIA Novosti news agency.

The decision will be made after Oct. 1, a source in the government told RIA Novosti.

The source admitted that for Russian grain traders the ban imposed from Aug. 15 has been a force-majeure situation as it affected the contracts already signed.

Russia needs to harvest no less than 60 million tons of grain this year in order to zero-balance grain consumption in the country. By July 1, Russia's grain stocks amounted to 21.7 million tons. If the harvest exceeds 60 million tons, the surplus might be channeled to international market, the source said.

Currently, the Russian Agriculture Ministry forecast 2010 harvest at about 70-75 million tons, down from an earlier prognosis of 90 million.

On Thursday, Russian Prime Minister Vladimir Putin announced the government decision to impose a ban on grain export from Aug. 15 till Dec. 31, due to the worsening drought in the country.

 

Editor:Zhang Pengfei |Source: Xinhua

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