Russian bans grain exports until 2011 harvest

By ASSOCIATED PRESS
September 2, 2010 22:13

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

MOSCOW — Russian Prime Minister Vladimir Putin said Thursday he has extended Russia's  ban on wheat exports until next year's harvest to ensure it has bounced back from a severe drought and wildfires that destroyed 20 percent of the crop this year.

Putin said in televised remarks the ban will be lifted only after the 2011 harvest in the interest of "securing stability and predictability of business for all the market players."

Last year, Russia was the world's third largest exporter of wheat, but this year's crop was badly damaged during the hottest summer in recorded history.

Regardless of the ban, Russian farmers have little incentive to export — grain prices have been rising even faster in Russia than on world markets.

The ban also covers wheat flour, barley, rye and corn.

Before the ban was announced in mid-August, the Russian Grain Union said it expected wheat exports to decline to 15 million tons this year, down from 21.4 million tons in 2009.

Related Content

Breaking news
August 21, 2018
Russia accuses UK of trying to foist its Russia policies on the EU, U.S.

By REUTERS