Grain export ban to be lifted on July 1

Russian Prime Minister Vladimir Putin and Ukraine President Viktor Yanukovych said their nations will lift their ban on grain exports on July 1.

Russia banned exports of wheat, barley, rye, corn and flour in August 2010 after a drought and heat wave cut the nation’s grain production by 37 per cent. Spring planting this year was 10 per cent higher than last year at 24 million hectares, the winter wheat harvest is progressing well and there is every reason to believe there will be a good grain harvest this year, according to First Deputy Prime Minister Viktor Zubkov.