Russia Places Export Quota on Grains Amid COVID-19 Pandemic

Russia recently announced an export quota on certain grains to ensure domestic “agricultural security” during the COVID-19 pandemic, according to a U.S. Department of Agriculture Foreign Agricultural Service report released April 7. The quota took effect April 1 and will last through June 30, the USDA said, which marks the end of the grain marketing year. Russian analysts have said the quota will not have a negative impact on the Russian grain market, the USDA said. Analysts also said the measure is largely unnecessary due to the high grain harvest expected this summer.