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Russia to impose customs controls to limit cereal exports
(MENAFN- AFP) The Russian government said it was bringing in customs barriers on Monday to limit the export of cereals in the hope of reducing domestic prices sent soaring by the collapse of the ruble.
Deputy Prime Minister Arkadi Dvokovitch said the measure is likely to be in place within 24 hours, according to Russian news agencies.
The fall of the ruble has made grain exports far more profitable for Russian farmers, leading to a steep rise in domestic wheat prices despite one of the best harvests on record.
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