MOSCOW, October 13 (RIA Novosti) - Russia will cut import duty on dairy products due to rising prices and raise export duty on grain, the finance and economics ministers announced on Saturday.
Finance Minister 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 told the meeting that due to the food price rise, import duty on milk and dairy products would be lowered in the near future.
The minister said on Wednesday that rising food prices were the main driver of overall price growth in the country, and would push 2007 inflation beyond the 8% target, to 9%.
Agriculture Minister Alexei Gordeyev said a state corporation should be set up to export grain.
