MOSCOW, RUSSIA — Russia plans to permanently implement the grain export quota it made in April-June in response to the coronavirus (COVID-19) outbreak, Reuters reported citing TASS a Russian news agency.
The country said its grain exports will not be subject to quotas from July to December, but quotas are possible January to June next year to guarantee domestic supply.
Russian agriculture minister, Dmitry Patrushev, told TASS, “We want the quota mechanism to become permanent... We plan to define the quota's parameters together with market participants after receiving final data on the new season's harvest - presumably in October.”
Russia is expected to export 45 million tonnes of grain in the 2020-21 marketing season that began July 1, according to TASS. The agriculture ministry anticipates the 2020 grain crop to total 122.5 million tonnes.
Part of the grain export quotas may be individual and semi-complete customs documents may be restricted for quota as it caused issues in April with the April-June quota, according to TASS.
In late April, traders scrambled to secure their May-June supplies making it so others could not obtain their quotas. According to TASS, the issues were fixed by work between the ministry and exporters.
Follow our breaking news coverage of the coronavirus/COVID-19 situation.