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Russia’s Agriculture Ministry says to drop practice of grain exports embargos

December 17, 2013, 4:06 UTC+3 MOSCOW
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MOSCOW, December 17, (ITAR-TASS). Russian Agriculture Ministry will drop the practice of imposing embargoes on grain exports in the years of poor crop yields, Agriculture Minister Nikolai Fyodorov told reporter.

“In the future we don’t plan to use administrative levers in the form of embargoes on grain exports,” he said. Embargoes had been used by the previous team of top-rank officials of the ministry, including the situation 2010 when the major bread basket regions of Russia were hit by an unprecedented drought and the wildfires not seen in the recorded history of the country.

“We’ll be acting through commodity and purchase interventions and won’t meddle with process of profit-making by market participants,” the minister said. “The Bolshevist itch to grab and redistribute is absolutely unacceptable in this sphere.

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