Russia lifts prohibitive grain export duties from July 1
The Russia government is lifting grain export duties from July 1 introduced more than six months ago to stem domestic food price growth, RIA Novosti reports.
In November 2007, the government fixed export duties on barley and wheat at 30% and 40%, respectively, in a bid to stabilize domestic retail prices for bread and flour.
Russia's Agriculture Minister Alexei Gordeyev earlier said there was no need to extend the prohibitive export duty on grain beyond July 1.
"Considering that we expect a fairly good harvest this year, there is no need to introduce restrictions on grain exports from July 1," Gordeyev said.
Russia expects to harvest 85 million metric tons of grain this year, the minister said.