Russia extends grain export embargo

Russia's government extended the embargo on grain export for another half year until July 1, 2011, the Interfax news agency reported on Friday.

Russian Prime Minister Vladimir Putin told the agricultural conference in Rostov-on-Don, southern Russia that he has signed a decree about the prolongation of the export moratorium.

He said this year Russia has harvested about 60 million tons of grain, despite the bad weather conditions and the drought.

"This is the amount that was generally predicted. Now we know exactly what resources we have and what the grain balance is going to be," he said.

The earlier decision banned grain export from Aug. 15 to Dec. 31, 2010.

The embargo was enacted after the severe drought in central Russia in the last summer.

Source: Xinhua