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RF economic development ministry supports floating grain export duty

Russian First Deputy Prime Minister Viktor Zubkov told journalists that Russia may limit grain exports in case they reach 23 to 24 million tons

MOSCOW, October 17 (Itar-Tass) —— Russia’s Ministry of Economic Development supports the idea of a floating grain export duty, Minister of Economic Development Elvira Nabiullina said on Monday.

“In fact, we may introduce such a mechanism but no such project has been considered so far,” she told journalists.

At the same time, she preferred not to try to forecast when such mechanism may be introduced. “It is difficult to say,” Nabiullina noted.

According to Nabiullina, the issue was once raised several months ago.

Earlier, Russian First Deputy Prime Minister Viktor Zubkov told journalists that Russia may limit grain exports in case they reach 23 to 24 million tons. Dwelling on possible limitation mechanisms, Zubkov did not rule out a floating grain export duty.

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