Russia Mulls Export Duty to Keep Grain in Country

Russia is looking at a protective export duty to keep grain in the country if exports exceed 23-24 million tonnes in the current crop year, First Deputy Prime Minister Viktor Zubkov told reporters on Oct. 25, 2011.

"This year the crop is going to be 90, maybe 92 million tonnes," Zubkov said.

"We would need 70-72 million tonnes for domestic consumption. But we also need some 15-16 million tonnes for carryover stocks by the end of the year. Therefore we can afford exports of 23-24 million tonnes in the current crop year."