Russian AgMin fully allocates 10% of overall grain export quota

MOSCOW. March 26 (Interfax) - The Russian Agriculture Ministry has fully distributed among exporters the additional part of the grain export quota in the amount of 10% of the total quota, which amounts to 2.4 million tonnes, the ministry said.

"The volumes have been distributed among exporters who received the main part of the quota on the basis of applications," the ministry said.

The total quota for 2024 (from February 15 to June 30) is 24 million tonnes.

As reported, from 2024 in accordance with the government decree (June 2023) the quota for grain exports outside the EAEU is divided into principal and additional parts. The main part (90%) is distributed, as before, according to the historical principle in February among 261 companies. The additional part this year consists of 10% of the total, in April it may increase due to voluntary waivers of quotas received earlier.

In addition, the Agriculture Ministry proposed increasing the grain export quota by 4 million tonnes this year, to 28 million tonnes. No decision on this has been made yet.

The grain export quota is in effect annually in Russia from February 15 to June 30.