Putin - Russian Grain Export Ban May Remain Until 2011 Harvest Is In - AFP

[hatrack]

Prime Minister Vladimir Putin said Thursday that Russia would not lift a ban on grain exports before next year's harvest, extending the major world producer's embargo until at least mid-2011.

"I believe it's necessary to note that we will only be able to consider lifting the grain export ban after next year's harvest ... and we have clarity on the balances," Putin said. "We cannot just keep lurching back and forth," he said at a government meeting in televised remarks. Putin gave no specific timeframe and his spokesman, Dmitry Peskov, only confirmed that the ban would not be lifted on December 31.

A record drought has destroyed a quarter of Russia's harvest and Putin signed a decree early last month banning grain exports from August 15 to December 31. Putin subsequently said the government might extend the ban into next year.

The export ban is aimed at keeping the domestic market well supplied with grain to prevent sharp rises in food prices with Russia's leaders nervous of social unrest and keen to avoid any discontent ahead of elections due in 2012. The export ban from such a key global player stung world markets, sending wheat prices to two-year highs and sparking worries of a crisis in global food supplies.

EDIT

http://www.seeddaily.com/reports/Russia_to_retain_grain_export_ban_until_2011_harvest_Putin_999.html

[pscot]

1. The Export Land Model

seems to work with food as well as oil.

[Kringle]

2. exporting grain is foolish .nt