Earlier on Wednesday, Russian Vedomosti daily quoted trade sources and unnamed officials as saying that Russia had set informal grain export quotas to prevent traders shipping out an amount above the ministry's export forecast.
Russia considers agriculture as a promising area of bilateral cooperation with Iraq and hopes to resume wheat exports to the republic in the near future, Russian Ambassador to Baghdad Maksim Maksimov told Sputnik.
Russia’s total trade turnover saw a significant year-over-year growth of 17.5 percent to nearly $688 billion as of the end of 2018, according to data published by the Russian Ministry of Economic Development.
Commercial conflict has choked American soy exports to the bean’s biggest market, China, providing Russian farmers an opportunity.
During the full year of 2018, the trade turnover between Russia and the countries of the European Union increased 9.7% year-on-year up to 253.1 bn euro.
The Department of Agriculture (DA) aims to tap the unexplored markets of Russia for possible export of coconut oil, banana and shrimps, Agriculture Secretary Emmanuel F. Piñol said on Friday.