Russia Suspends Grain Exports until July 1

By April 26, the grain export quota in the second quarter in the amount of 7 million tons set at the end of March was found to be ahead of schedule, the Ministry of Agriculture of the Russian Federation said. Russia suspended grain exports until July 1, 2020. The decision is related to the exhaustion of the non-tariff quota for grain supplies abroad in full on Sunday, April 26, according to a statement issued on the same day by the Ministry of Agriculture of the Russian Federation. The agency recalled that on March 31 this year, a government decree was adopted that established a quota for the export of wheat, meslin, rye, barley and corn to non-member states of the Eurasian Economic Union in the amount of 7 million tons from April 1 to June 30. According to the government, this quota was exhausted ahead of schedule. "The restrictive measure will help stabilize grain prices and ensure the country's domestic needs for grain and its processed products," the Ministry of Agriculture said. At the same time, the agency suggests that these restrictions will not affect the performance of Russian agricultural exports in 2020.