Russia's Agriculture Ministry has proposed restricting grain exports in the 2014/2015 season as a possible way of balancing the domestic market, Arkady Zlochevsky, head of Russia's Grain Union, said.
Citing a letter from the ministry to Prime Minister Dmitry Medvedev, Zlochevsky said the move would unsettle consumers. Russia shocked grain markets with a one-year export ban in 2010 when drought ravaged that year's harvest. The move was a catalyst for a surge in grain prices and political instability in the import-dependent Middle East and North Africa region.
"Even the consideration of a question like this does harm," Zlochevsky said. "There should be no discussion of a ban because it frightens our buyers."
The authenticity of the letter could not be confirmed.The Agriculture Ministry declined to comment. The government was not available for immediate comment.
Rotterdam, 05/09/2014-INC News
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