Grain Market Analyst
On January 14, the Ag Ministry of Russia published a draft resolution imposing a temporary restriction on grain exports in the first half of this year. The document envisages establishing a grain export quota at 20 MMT until June 30, 2020. As expected, this innovation shall not apply to the Customs Union countries – exports to them will remain in the shadows.
The agriculture minister explains the necessity of state regulation by the domestic market’s needs and food security reasons, reports UkrAgroConsult.
According to the Russian Ag Ministry’s forecasts, grain exports are to total 45 MMT, including 36 MMT of wheat. Their estimate for exports as of the end of 2019 is at 25 MMT. In other words, the remaining volume of grains available for export equals 20 MMT and it will be limited by the quota.
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