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Russia's grain export ban takes effect

08-16-2010 08:40 BJT Special Report:Forest Fires Ravage Russia |

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Russia's ban on grain exports is now in force. The edict is scheduled to last until the end of the year.

The ban sent wheat prices soaring to two-year highs at one point, making many Russians worry about its impact on their livelihood.

Russia's worst heatwave on record stoked wildfires and parched crops in the world's third largest wheat exporter.

Russian citizens think the export ban and crop failure may lead to a further spike in prices as grain traders may try to compensate for their losses.

Many hope the government will help them overcome the problems.

Moscow Resident, said, "The state and the government must be ready for a bad harvest, drought and other natural calamities. It must be ready, and the granaries must be full."

Some think an eventual increase in bread prices might affect heavily on people in the lowest income levels.

Moscow Resident, said, "It will go on just the same for us. We will eat bread as usual, but it will definitely affect the elderly people, pensioners first of all."

Russian first Deputy Prime Minister Viktor Zubkov says the ban is a temporary measure and authorities are continually monitoring and analyzing grain, feed and seed supplies on the domestic market.

He says the government plans discussions for October on whether to extend a grain export ban into next year.

Russia harvested 97 million tonnes of grain in 2009, and it needs 78 million tonnes to cover domestic consumption.

Data from the Russian Agriculture Ministry shows the country may have no more grain to ship abroad from this year's crops, even if it lifts the export ban for 2011.

 

Editor:Zhang Pengfei |Source: CNTV.CN

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