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The Hellenic Radio (ERA): News in English, 10-08-19
From: The Hellenic Radio (ERA) <www.ert.gr/>
 "Battle for Bread"- Russia Considers to Import WheatThursday, 19 August 2010 10:49
The Economics Ministry in its effort to avert profiteering in grain market and bread has launched inspections in wheat industries. It has also instructed the Competitiveness Committee to take measures against the creation of wheat cartels. However, bakers have belied that some wheat industries sell wheat at increased prices. In the meantime, newspaper Vedomosti says that Russia is considering to import millions of tones of wheat since extended drought has obliged it to review its forecast for this year's grain harvest . Quoting an Agriculture Ministry source, the newspaper says that Russia may import 5 million tones of wheat in 2010-2011. Russia, third world wheat exporter, has lost Ό of its wheat harvest due to drought and heat wave that hit the country in July. According to Russian Agriculture Ministry source, Russia has already decided to proceed to wheat import the quantity is yet to be decided.
Russia is considering to import wheat from Kazakstan which forecasts to export more than two thirds of its total harvest.
On August, 5 Russia decided to ban wheat exports till the end of the year to ensure coverage of domestic demand and avert rise in price. This measure pushed the price of wheat up in international markets.
Bolaris: Continuation of Cost Inspections
Undersecretary for Economics and Competitiveness Marcos Bolaris has announced continuation of cost inspections and imposition of penalties after the end of the meeting with wheat importers.
Participants in the meeting agreed that there are signs for rise in soft grain price in the world markets but this rises could be absorbed and not passed to consumer.
A new meeting will be held next wee with the participation of Agriculture Minsiter Katerina Batzelis.
Sources: ΑNA-ΜPA, ΝΕΤ, ΝΕΤ 105.8
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