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No grain export duties to be introduced by end of 2011

There are no plans for introducing export duties on grain by the end of this year

MOSCOW, November 10 (Itar-Tass) —— There are no plans for introducing export duties on grain by the end of this year, Deputy Economic Development Minister Andrei Slepnyov told the media on Thursday.

“The situation is this – there will be no export duties for the time being. The export rates are normal, price conditions are normal, and there is no reason for alarm,” he said.

Slepnyov explained that toward the spring of 2012 the government would analyze the situation on the grain market.

“If we see that it is somewhat uncertain, then we shall study it more closely,” Slepnyov said. “In any case the government will be taking only those measures that have been agreed with businesses. There will be no unexpected surges,” he said.

Asked by Itar-Tass, the deputy economic development minister said there would be no reasons for that till the end of this year.

“The export potential is decent, the situation in the world markets of grain calm, and the domestic prices are quite acceptable,” Slepnyov concluded.

At the end of October this year Prime Minister Vladimir Putin said that Russia would be prepared to introduce protective export taxes on grain, if its export climbed to above 24-25 million tonnes. Earlier, Deputy Prime Minister Viktor Zubkov voiced such an idea, too.

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