Extension of the ban on the export of rice and rice cereals in Russia: consequences and prospects

In Russia, a temporary ban on the export of rice and rice cereals has been extended until June 30, 2024. This decision was made to maintain stability in the foreign market. The Russian Cabinet of Ministers decided to extend the ban to ensure the availability of food for the country's population.

The restriction on the export of rice and rice cereals was introduced on July 29 and was initially valid until December 31, 2023. However, given the current market situation and the need to ensure price stability for these products, the government has decided to extend the ban for another year and a half.

A decree extending the ban on the export of rice and rice cereals was signed and published on the official website of the Russian government. It should be noted that the ban does not apply to member countries of the Eurasian Economic Union, as well as to South Ossetia and Abkhazia. This means that these countries will be able to continue to freely export rice and rice cereals to Russia.

However, even with the extension of the ban, there are some restrictions. Rice and rice cereals can still be exported abroad to provide humanitarian aid. It will also be possible to ship these products as part of international transit shipments.

In addition, the Russian government has established tariff quotas for duty-free export of grain crops, sunflower oil and sunflower meal from new regions of the country. These quotas will be valid until December 31, 2024. Thus, new regions of Russia will be able to export grain crops without paying duties within established limits.

In fact, the extension of the ban on the export of rice and rice cereals and the establishment of a quota for duty-free export of grain are measures aimed at maintaining a culture of stability in the Russian foreign market. This will ensure the availability of rice and rice cereals for the country's population and prevent price increases for these products.