From September 10, the export duty on wheat from Russia will increase by another 1.2 times—to 168.6 rubles per tonne.

The export tariff on wheat from Russia for the period from September 10 to 16 will increase to 168.6 rubles per ton, while the tariff on corn and barley will remain at zero, according to data from the Russian Ministry of Agriculture. According to the Ministry of Agriculture, the export tariff rate on wheat and meslin (a mixture of wheat and rye) is calculated at an indicative price of $226.6 per ton, on barley at $207.2, and on corn at $221.3 per ton. The export tariff on wheat from Russia, effective from September 3 to 9, was 134.4 rubles per ton. As is known, Russia applies a flexible export tariff on wheat, corn, and barley, which operates within the grain buffer mechanism. The calculation uses data on the price of export contracts registered on the exchange and the average exchange rate of the dollar to the ruble by the Bank of Russia for the five working days prior to the calculation date. The funds received are directed to ...