TAMBOV, Russia (Reuters) – Russia, worried by soaring food prices and a shortage of feed grain, may extend its ban on grain exports until the end of the year, said deputy prime minister Viktor Zubkov.
“We see what is happening on the food markets, and we don’t see any improvement,” he said.
Last year’s drought prompted Russia to ban exports until July 1.
Future action will depend partly on the new crop and on livestock feed demand.
“It’s not just the volume (of the harvest) that will determine whether to lift the ban or not. There are a lot of factors, like which cereals we’ll have and how much,” said Zubkov.
