World meat industry news

Russia’s Agriculture Ministry plans to continue implementing the mechanism of grain quotas in the new season, Minister Dmitry Patrushev told a forum on Friday.

"I should note that quotas have been in force (in Russia) for the third year in a row. We believe the mechanism has proved efficient. Market participants have got accustomed to this instrument, which enables them to efficiently plan their export activities. In the new season the implementation of the mechanism of quotas will continue," he said.

Earlier reports said that annual quotas on grain exports from Russia came into force starting February 15 and will remain in effect until June 30, 2022. The wheat quota will total 8 mln tonnes in 2022, while the quota on rye, barley and corn will amount to 3 mln tonnes in total.

Russia’s Economic Development Ministry said earlier that the policy was aimed at ensuring the country’s food security, as well as curbing the growth of domestic prices for main grain crops, which may drive up the net cost and consumer prices for end products of the milling, cereal, baking and meat-and-milk sectors in Russia and EAEU (Eurasian Economic Union) member-states.