The Russian Ministry of Agriculture is finalizing the mechanism of grain export quotas

Published 2024년 11월 6일

Tridge summary

The Russian Ministry of Agriculture is revising its grain export quota system, with 76% of the 2024 quota already used. Agriculture Minister Oksana Lut mentioned possible fines for unused quotas and a return to separate quotas for the Far East. The export quota for grains to non-EAEU states was initially 24 million tons, later increased by 5 million tons, and the maximum quota for exporters is now 70% of the main part. The draft budget for 2025-2027 includes subsidies for agricultural transport costs. Additionally, fish exports have dropped by 13% due to market access issues, prompting efforts to find new markets and boost domestic consumption.

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Original content

The Russian Ministry of Agriculture is fine-tuning the grain export quota mechanism; the volume approved for 2024 has been used up by 76%, Agriculture Minister Oksana Lut said in an interview with the Vedomosti newspaper. The Union of Grain Exporters and Producers reported in early October that it plans to contact the Ministry of Agriculture with a proposal to change the methodology for distributing the export quota for Russian grain for the second half of the season. “The mechanism is effective, everyone is used to it. But we are, of course, fine-tuning it. Last year, let me remind you, the quota was 25.5 million tons, for 2024 it was increased by another 4 million tons. But it was only used up by 76%,” Oksana Lut said, answering a question about how she assesses the effectiveness of the grain export quota mechanism. “Those who do not use the quotas will be fined, that is, their quota for 2025 will be proportionally reduced through a correction factor. This year, we have already ...

Source: Zol