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. Last Updated: 07/27/2016

Food Aid Will Cut Russian Exports

Russia will commit not to export grain and meat for at least six months while it receives Western food aid, a senior Trade Ministry official announced Tuesday.

At the end of last week Prime Minister Yevgeny Primakov signed a government order forbidding the export of products included in humanitarian aid packages, Deputy Trade Minister Dmitry Sukhoparov told Prime-Tass.

Russia is to receive up to 4 million tons of wheat as food aid from the United States and the European Union. The humanitarian aid programs also include supplies of meat, soybeans and other commodities. Under the new government decree the export of these commodities will have to cease.

Russia exported 2 million tons of wheat last year as producers and traders capitalized on the difference between export and domestic prices. A ton of wheat is priced at $30 to $35 in Russia versus $100 on international markets.