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Russia will not be prolonging export duties for grains?
Russia, March 30, 2004
The 25 euro/t export duty for grain was established early this year for stabilisation of local grain market, which had started to experience a sharp price growth for grain and grain products (first of all, bread) because of mass-scale exports of grain from the country, said Head of Tariff Regulation Department in the Russian Ministry for Economic Development Alexander Filippov.

"The increase of duties and the state interventions on the grain market have had a positive effect on stabilisation of domestic market. Willing to affirm the obtained results, the Ministry for Economic Development as early as February made a proposal to prolong the duties, but it has been just on one of these days that the government decided not to do it", Filippov said. He said the situation had changed dramatically over the recent weeks.

A recent analysis has shown that available grain in the country will last until the new crop. Russia consumes about 3 million tonnes of milling grain per month on average, he said. That means, it will need a maximum of 12 million tonnes of grain until the new crop (the end of July). There are now 18 million tonnes available on the market. In other words, cancellation of the export duties on May 1 will not change the situation. Even if the exports liven up again, the traders will not be able to sell the whole of the accumulated stocks until the new crop. According to Filippov, this policy has represented a practical realisation of the idea of agricultural market regulation for stabilisation of the prices. Despite some mistakes and lateness, this policy has delivered an undoubtedly positive result, he believes.
MGR Archive 30.3.2004
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Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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