A new quota for grain commodities export has been in force in Russia w.e.f. February 15, the RF Ministry of Agricultue said in its social media account.
Exporters are allowed to supply 25.5 mn tons of wheat, barley, corn and rye to the global markets till June 30. The quota for grain producers in the Russian Far East has been expanded.
The quota does not limit grain exports to the EAEC countries.
“The quota is a mechanism aimed at protecting the domestic market till the new harvest, maintaining the necessary stocks and stable prices,” the Ministry explained.
The quota for the second part of the agricultural year depends largely on the grain balance. Due to the last year’s record breaking harvest, the quota for this season has been increased.
The quota is distributed between grain exporters who submit applications. This year, 203 companies have applied.
Photo: Ministry of Agriculture web portal