Russia bans durum wheat export for six months aiming stabilize domestic needs
The Russian government decided to impose a temporary ban on the export of durum wheat, a measure aimed at stabilizing domestic prices, the press service of the Russian Cabinet of Ministers announced.
The Russian government decision to impose a temporary ban on the export of durum wheat is effective as of the date of publication of the order, and will remain in effect until the end of May 2024.
This step comes in response to ensuring the stability of the prices of durum wheat products in the domestic market, and represents a temporary measure that comes within the framework of signing regulatory instructions in this regard.
According to the statement issued by the Russian government, temporary restrictions have been imposed on the export of durum wheat, with the exception of supplies intended for international humanitarian assistance in accordance with intergovernmental agreements between countries.
It’s also allowed to export durum wheat to the countries of the Eurasian Economic Union (Armenia, Belarus, Kyrgyzstan, and Kazakhstan), but within specific quotas set by the Russian government, and permits are required from the Russian Ministry of Agriculture.
Earlier this month, Russian President Vladimir Putin confirmed his country’s transformation from an importer to an exporter of agricultural products, while emphasizing Russia’s ability to maintain its position in the global wheat market this year.
He pointed out that Russia will provide about 60 million tons of wheat to global food markets.
