Russia may expand restrictions on food exports

Restrictions on the export of Russian food products may be expanded, said the head of the Ministry of Economic Development Maxim Reshetnikov, writes TASS with reference to the Financial Times.

This should, according to the minister, become a “price shock absorber”, that is, protect consumers from rising prices in the domestic market. In addition, export restrictions should induce Russian producers to invest more in production.

“This is one of our sources of growth by adding new value chains – grain pushes livestock forward, livestock propels milk forward, and so on,” he said.

Recall that the authorities expect to stabilize prices for buckwheat with the help of an export ban – it is introduced from June 5 to August 31.

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