Russian wheat export ban executed

Record drought accompanied by wildfires in Russia
has prompted Russian ‎government to place a temporary
ban on grain exports until the end of ‎the year.


Source: Press TV
http://www.presstv.ir/detail.aspx?id=138742§ionid=3510213


A ban on exports of wheat and other grains has come into force in Russia, after a severe drought and a spate of wildfires devastated crops in the country.

The ban which will be valid until the end of the year, follows a hike in the price of grains since June when Russia started feeling the effects of a heatwave that has destroyed one-third of the country's harvest.

Russian prime minister's spokesman Dmitry Peskov said earlier this month that exports of wheat, corn, barley, rye, and other grain products would be halted from August 15 until December 31.

Data released recently by Russian Agriculture Ministry has revealed that this year's crop is unlikely to meet even domestic demand.

The world's third largest wheat exporter expects to harvest 60-65 million tones of grain this year after two bumper crops of 97 million tones in 2009 and 108 million in 2008.

Experts say the country is temporarily prohibiting grain exports as it seeks to keep domestic food prices under control.

The ban comes as wildfires and drought across western and central Russia have destroyed 10 million hectares of crop.

The ban announcement has sent wheat prices soaring on US exchanges and caused double-digit gains in Europe.