Traders expect Russia grain export tax from October

Drought-hit Russia is expected to restrict grain exports as estimates of the weather-ravaged crop have now slipped below levels seen after its 2010 crop disaster, with punitive tax a likely option as soon as October, according to a survey of international grain traders conducted by Reuters.

Of 10 international traders and analysts surveyed, five saw an export tax as likely with other possibilities including quotas or even an outright ban. Six of the 10 expected export curbs to begin in October.