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Russian Grain Export Ban In Force


President Dmitry Medvedev has said one-quarter of Russia's crops have been lost in this year's record heatwave and drought.

President Dmitry Medvedev has said one-quarter of Russia's crops have been lost in this year's record heatwave and drought.

Russia's ban on exports of the country's grain supply has come into force.

The ban -- which is to run from August 15 until at least the end of the year -- was ordered in a bid to keep down domestic food prices after a severe drought and wildfires devastated Russian crops.

Russia is one of the world's biggest producers of grains like wheat, barley and rye.

President Dmitry Medvedev said last week that one-quarter of Russia's crops have been lost in this year's record heatwave and drought, and many farms have been sent toward bankruptcy.

In response to the Russian situation, the U.S. Agriculture Department has reduced its forecast for the world's wheat harvest by 2.3 percent -- but said it did not see any global food crisis arising from the Russian losses.

compiled from agency reports

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