Export duty rates on wheat, barley, and corn from Russia will be zero from August 13.

INTERFAX.RU - Tariffs on the export of wheat, barley, and corn from Russia will be zero from August 13. This calculation was presented by the Ministry of Agriculture.

Until that date, the tariff rate for wheat exports is 19.4 rubles per tonne, for corn it is 371.5 rubles. The tariff on barley exports has been at zero for a long time.

The rates were calculated based on indicative prices: $223.5 per tonne for wheat ($224.2 for the previous period), $199.7 for barley ($194.4), $220 for corn ($228.9).

The new rates will be in effect until August 19.

Since June 2, 2021, Russia has introduced a grain buffer mechanism, which provides for floating tariffs on the export of wheat, corn, and barley and the return of funds received from them to subsidize agricultural producers. The size of the tariffs is calculated weekly based on indicators based on the prices of export contracts, which are registered on the Moscow Exchange. Initially, the tariff rates were calculated in dollars. Since July 2022, they have been determined in rubles.