MOSCOW, October 13 (RIA Novosti) - Russia will cut import duty on several foodstuffs due to rising prices and raise export duty on grain, the finance minister announced on Saturday.
Alexei Kudrin, speaking at a meeting with the Cabinet and lawmakers convened to discuss the problem over rising food prices, said: "As far as the Russian market is concerned, I can say that we have enough grain. This year we harvested even more grain than last year. We will limit the desire to sell grain at higher prices by raising export duty."
Economic Development and Trade Minister Elvira Nabiullina said on Wednesday that rising food prices were the main source of overall price growth in the country, and would push 2007 inflation beyond the 8% target, to 9%.
