1. Agriculture World

Russia Bans Grains Export To Ex-Soviet Countries Until June 30

"The agriculture ministry and the trade ministry have developed a draft government regulation that would impose a temporary restriction on exports of Russia's key grains from March 15 to June 30," the agriculture ministry said, according to Interfax.

Shivani Meena
Russia posed temporarily ban on grains export
Russia posed temporarily ban on grains export

Russia may stop wheat, barley, maize (corn), and rye exports beginning Tuesday until June 30, according to Interfax, citing the agriculture ministry. Russia is the world's largest wheat exporter, with Egypt and Turkey as major consumers. It mostly competes with the European Union and Ukraine. 

"The agriculture ministry and the trade ministry have prepared a draught government regulation that would establish a temporary ban on exportation of the main grains from Russia from March 15 to June 30," the agriculture ministry stated, according to Interfax. 

Prime Minister Mikhail Mishustin signed an order on Monday prohibiting the export of white and raw sugar until August 31, as well as wheat, rye, barley, and maize to neighboring Eurasian Economic Union states until June 30. 

However, Deputy Prime Minister Viktoria Abramchenko stated that grain exports within quota under individual licenses will continue to be permitted. 

According to Dmitry Rylko, the chairman of the IKAR agriculture consultancy, Russia's exportable surplus for the time is anticipated to be between 6 million and 6.5 million tonnes of wheat. 

Russian wheat exports have fallen by 45 percent since the start of the current marketing season in July-June due to a reduced harvest, grain export tariffs, and export restrictions, which Moscow has been implementing since 2021 as part of steps to control domestic food inflation

Last week, Russia's economy ministry said that it will stop grain shipments to neighboring ex-Soviet countries till the end of August to strengthen national food security

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