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Russia impose temp ban on grain exports

 
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Brown Sauce



Joined: 07 Jan 2007
PostPosted: Sun Aug 15, 2010 8:09 am    Post subject: Russia impose temp ban on grain exports Reply with quote
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major.tom
Macho Business Donkey Wrestler


Joined: 21 Jan 2007
Location: BC, Canada
PostPosted: Mon Aug 16, 2010 12:58 am    Post subject: Reply with quote
Quote:
It will also ask its regional customs union partners - Kazakhstan, another leading grain exporter, and Belarus - to follow the suit.


Any ideas on what this achieves? If those countries are affected by the fires, they would probably do the same to ensure they can feed their own people. Otherwise, this serves only to drive wheat prices even higher by further restricting the availability of wheat on the open market.

Unless Russia is asking for 1st dibs on their wheat -- wouldn't that be written into existing trade agreements?
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