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Russia Will Suspend Grain Exports If Quota Runs Out

May be depleted by mid-May or earlier

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Russia, the world’s biggest wheat exporter, will suspend grain exports until July 1 once its export quota is exhausted, which is currently expected to happen in mid-May, its deputy agriculture minister Oksana Lut said on Friday.

According to Reuters, Russia last fully banned wheat exports in 2010 when drought hit its harvest, rocking global markets. Turkey, Egypt and Bangladesh are the largest buyers of Russian wheat.

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