Russian govt considering possibly canceling export quota on grain - Deputy PM Abramchenko

MOSCOW. Oct 11 (Interfax) - The Russian government is considering the possibility of canceling the export quota on grain introduced in the second half of the agricultural year, Deputy Prime Minister Victoria Abramchenko told reporters.

"This is being worked out," Abramchenko said in response to the corresponding question.

"The harvest is large, thus, in principle, perhaps yes, as there are no preconditions for introducing any quantitative restrictions now," Abramchenko said.

As previously reported, the export quota is calculated based on the balance of grain, is distributed according to the historical principle, and is introduced annually from February 15 to June 30. Last agricultural year, which ended on June 30, 2022, the quota totaled 11 million tonnes, including eight million tonnes of wheat, distributed among 206 companies.

Russia expects to harvest around 150 million tonnes of grain in 2022, including 100 million tonnes of wheat, according to the Agriculture Ministry's forecast.

Russia needs to export 50-60 million tonnes of grain this agricultural year from July 2022 to June 2023, First Deputy Agriculture Minister Oksana Lut said in September during an expanded meeting of the State Duma committee on agricultural matters, adding that this was according to calculations based on the grain harvest this year totaling "150 million tonnes in gross", with 80 million tonnes required for domestic consumption.