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    Home > Food News > Food Articles > Russia plans to introduce wheat export quotas next year to ensure domestic supply

    Russia plans to introduce wheat export quotas next year to ensure domestic supply

    • Last Update: 2021-10-19
    • Source: Internet
    • Author: User
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    Foreign media news on October 7: Russia plans to introduce wheat export quotas from mid-February next year to stabilize domestic flour and bread prices
    .
    This also highlights the tightening of global wheat supply
    .
     
    After the Russian Grain Exporters Association had a meeting with the Russian Ministry of Agriculture, the head of the Association, Edward Zenin, said that as part of the quota, the number of wheat exports will face specific restrictions
    .
    The export quota will be based on this year’s exports and next year’s domestic demand
    .

     
    This plan shows that Moscow is still worried about how to ensure sufficient domestic food supplies and curb food inflation
    .
    Chicago wheat futures prices have risen to near an 8-year high because US wheat stocks are lower than expected
    .
    This year Russia is competing with the EU for its position as the number one wheat exporter
    .
     
    Earlier this year Russia stated that it would implement export quotas in the second half of each year
    .
    The grain export quota announced at the end of 2020 is 17.
    5 million tons, valid until the end of June 2021
    .
    After that, Russia implemented formula-based floating tariffs on wheat exports
    .
     
    The Russian Ministry of Agriculture and the Association of Grain Exporters met on September 30 to discuss the new export quota plan
    .
    Export quotas may take effect from February 15
    .

     
    The Russian Ministry of Agriculture predicts that Russia may export 31.
    5 million tons of wheat this year, of which the export volume from January to June 2022 will reach 14 million tons
    .
    Wheat export flour bread prices
     
    After the Russian Grain Exporters Association had a meeting with the Russian Ministry of Agriculture, the head of the Association, Edward Zenin, said that as part of the quota, the number of wheat exports will face specific restrictions
    .
    The export quota will be based on this year’s exports and next year’s domestic demand
    .

     
    This plan shows that Moscow is still worried about how to ensure sufficient domestic food supplies and curb food inflation
    .
    Chicago wheat futures prices have risen to near an 8-year high because US wheat stocks are lower than expected
    .
    This year Russia is competing with the EU for its position as the number one wheat exporter
    .
     
    Earlier this year Russia stated that it would implement export quotas in the second half of each year
    .
    The grain export quota announced at the end of 2020 is 17.
    5 million tons, valid until the end of June 2021
    .
    After that, Russia implemented formula-based floating tariffs on wheat exports
    .
     
      The Russian Ministry of Agriculture and the Association of Grain Exporters met on September 30 to discuss the new export quota plan
    .
    Export quotas may take effect from February 15
    .

     
      The Russian Ministry of Agriculture predicts that Russia may export 31.
    5 million tons of wheat this year, of which the export volume from January to June 2022 will reach 14 million tons
    .
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