IKAR in Mass and Industry Media

Grain Prices Would Fall $75 if Russia Allowed Exports, IKAR Says

Bloomberg

April 14 (Bloomberg) -- Global grain prices would decline by about $75 a metric ton if Russia allowed exports, according to the Institute for Agriculture Market Studies.

"If grain is freely exported to foreign markets, we will face about $75 decline in world prices, and about $75 increase in domestic prices," Dmitry Rylko, general director of the institute, also known as IKAR, said in Kiev today.

Russia banned grain exports from Aug. 15 to at least July 1 after drought wiped out 37 percent of its grain crop. Grain in Russia trades at 30 percent to 40 percent discount to global prices after the ban, First Deputy Prime Minister Viktor Zubkov said last month.

10.05.11

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