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Russia c.bank, grains lobby urge export limits
03.06.2011 14:44 "Agro Perspectiva" (Kyiv) —
Russia should consider introducing
export limits on grain linked to domestic prices
through a system of floating import duties, its central
bank governor and an industry lobby said on Wednesday.
«To soften the effect on domestic prices of the end of the
ban we could temporarily, say for one year, introduce a
mechanism of floating» tariffs, RIA quoted central bank
governor Sergei Ignatyev as saying.
Struggling to tame inflation without killing growth, he
protested plans announced at the weekend to lift a grains
export ban, calling it the single largest inflationary threat
facing Russia.
As of late May, Russian inflation was running at an annual
9.7 percent.
The Grain Union expects the government to introduce
some limits. It is part of a powerful coalition of producers,
lobbyists and analysts who begged the government to lift
the ban citing the risk that it would discourage investment
in next years crop.
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