Mon Dec 22, 2014 07:41 AM CST

MOSCOW (Dow Jones) -- Russia's government has decided to impose duties on grain exports, Deputy Prime Minister Arkady Dvorkovich said Monday, according to Interfax news agency. The move comes amid concerns about rapidly rising food prices in the domestic market, despite the fact that Russia harvested a record grain crop this year.

Russia's consumer inflation has almost reached double-digit readings due to a rapid depreciation in the ruble's value, along with Moscow's ban on food imports from countries that sanctioned Russia due to the annexation of Crimea and support for separatists in Eastern Ukraine.


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