Russia Bans Wheat Exports Through Rest of 2010
Russian president Vladimir Putin announced last week that the country will institute a ban on wheat export through the end of this year, BBC News reports. The announcement comes in response to several weeks of wildfires which, along with drought, have brought ruin to millions of acres of wheat and other grains in the country.
Russian president Vladimir Putin announced last week that the country will institute a ban on wheat export through the end of this year, BBC News reports. The announcement comes in response to several weeks of wildfires which, along with drought, have brought ruin to millions of acres of wheat and other grains in the country.
Russia is one of the world...s largest wheat exporters, and the halt of exports actually goes beyond wheat. BBC reports that barley, rye, and maize exports from the country will also halt, and Russia is urging neighboring Kazakhstan to follow suit.
Industry experts state that lowered wheat output is already being felt by rising prices, internationally.
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