Russia increases wheat exports at the expense of corn

In brief: • Wheat could surpass 80% of total grain exports • The Russian government has set a tariff quota of 10.6 million tons for grain exports The duty on wheat exports from Russia will be 4,245 rubles ($41.5) per ton from January 15, 2024, according to the Agriculture Ministry. Earlier, the government set a duty on wheat exports for January 13 and 14 at 4,346.1 rubles ($42.5) per ton, the ministry said. The duty on barley will be 2,542.9 rubles ($24.86) against 2,220.1 ($21.7) rubles set earlier. The duty on corn will be increased to 4,436.4 rubles ($43.4) from 4,366.5 rubles ($42.7) per ton. The rate of the export duty on wheat is calculated at an indicative price of $240.2 per ton, for barley - $204.7 per ton, for corn - $231.7 per ton. The floating duty on Russian grain exports has been in effect since June 2, 2021. The Ministry of Agriculture determines the amount of the duty for a period of one week. The duties were calculated in dollars before July 1, 2022, and ...