Russia: Russia could abolish grain export quota in view of big harvest

Russia, the world�s largest wheat exporter, is considering abolishing its grain export quota which it usually sets up in the second half of the July-June marketing season, the Interfax news agency reported, citing Russia�s Deputy Prime Minister.

According to Reuters, Russia usually sets up grain export quotas for the period from mid-February and until the end of June to secure enough supply for the domestic needs.

�The harvest is big, so, in principle, probably, yes, there are no prerequisites to impose any quantitative restrictions at the moment,� Viktoria Abramchenko, who is in charge of the agriculture sector in the government, was quoted as saying on Tuesday.

Russia is on track to harvest a record grain crop of 150 million tonnes, including 100 million tonnes of wheat, in 2022, according to President Vladimir Putin�s forecast.

Russia�s Union of Grain Exporters said on social media that it would be better to keep the quota system in place but make sure the size of it is not of a restrictive nature.

The quota of 25 million tonnes of grains for exports from mid-February and until June 30 �could become a compromise option,� the union said.