OREANDA-NEWS. May 30, 2011. The ban on grain exports from Russia will be cancelled, effective July 1, 2011. This was stated by the prime minister of Russia Vladimir Putin at a meeting with First Vice-Premier Minister Viktor Zubkov.

"From July 1st this year, we'll remove the ban on grain exports", said Vladimir Putin. He added that “we should very carefully monitor what is happening in this very important for us, industry, and using all of our mechanisms to support our farmers."

The grain exports ban was introduced by the Russian Government in August last year to avoid shortages of grain in the country. According to Viktor Zubkov, today the grain market is stable. "Moreover, there are in southern Russia quite good, large amounts of grain, which exports could be started from July 1. And today we have grain prices set something around RUB 5200-5400 per 1 ton, which is almost 2 times lower than the world price of grain ", said Mr. Zubkov.

He added that there are 6 million of tons accumulated in the gain fund, and “if we do have some problems related to the price increase, we will apply the measures of customs and tariff regulation."