Russia bans grain exports

Published 2022년 3월 14일

Tridge summary

Russia's Ministry of Agriculture and Ministry of Industry and Trade have proposed a temporary ban on cereal exports from March 15 to June 30, 2022, including wheat, rye, barley, and corn. This comes as Russia has exported 28.1 million tons of grain, which is 30.3% of its total grain since July 1, 2021, with significant exports to Turkey, Egypt, Saudi Arabia, and other countries. The proposed ban could affect these importers, especially Turkey, which heavily relies on Russian wheat. The decision is a response to concerns over the pressure on the government's finances and rising consumer inflation, with consumer inflation reaching 8.8% in February.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Russia's Ministry of Agriculture, together with the Ministry of Industry and Trade, has prepared a draft government decree providing for a temporary ban on exports of basic cereals from March 15 to June 30, 2022. This was reported to Interfax by the press service of the Ministry The temporary ban on exports from the Russian Federation will affect wheat, rye, barley and corn. It is assumed that the period will be from March 15 to June 30, 2022 inclusive. From July 1, 2021 to March 10, 2022, the Russian Federation has exported 28.1 million tons of grain, which is 30.3% of -slightly compared to a year earlier (excluding exports to the Eurasian Economic Union countries in January-March). In particular, exports of wheat decreased by 30.9% to 23 million tons, barley - by 34.7%, to 2.9 million tons, corn - by 21.7%, to 1.8 million tons. of the Federal Customs Service, in the first half of 2020 Russia sold the most grain to Turkey for a total of $ 818.3 million, followed by Egypt - with $ ...

Source: Standartnews