The FINANCIAL — The Ministry for Economic Development of the Russian Federation supports the further cancellation of the grain embargo, stated Elvira Nabiullina, Minister for Economic Development.
According to the Minister, in the current year the country will produce 85-87 mln tonnes of grains. The export potential is estimated at the level of 18 mln tonnes. Therefore it is impractical to keep the export ban for grains, said E.Nabiullina.
Besides, according to her, both very high and very low grain prices reduce the incentives and revenues of Russian agricultural producers. It is ultimately rather bad for consumers. So, the prices should be at the equilibrium level, noted the Minister. She noted that to date there is a gap between the domestic and world prices.
The Government certainly will not allow any surge of prices, as the decline of inflation is the priority on the market, but the authorities will use other limiting measures, which are more effective compared to the embargo, said E.Nabiullina.
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