Russia sets wheat export quota of 11 million tons, barley, corn and rye exports will be banned

Published 2024년 12월 1일

Tridge summary

Russia has set a grain export quota of 11 million tons for the period from February 15 to June 30, 2025, in an effort to curb rising food inflation. The quota is a significant reduction from last year's 29 million tons and will only allow the export of wheat and meslin. The export duty will have a floating rate, with an out-of-quota rate of 50%, but not less than 100 euros per ton. The government is also extending a ban on rice exports for the first half of the year. The move aims to control rising prices inside the country, as food prices have reached a record high since January 2023.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Russia is imposing severe restrictions on grain exports from the country to slow food inflation, which by the end of November had set a record for almost 2 years. The government’s customs subcommittee on Friday set a grain export quota of 11 million tons for the period from February 15 to June 30, 2025, the press service of the Russian Ministry of Economic Development said. Compared to last year (29 million tons), the quota will be almost three times smaller. At the same time, only wheat and meslin will be allowed to be exported abroad. “For the export of barley, rye and corn, the quota will be 0 tons”, – specifies the Ministry of Economic Development. According to the report, within the quota will be a floating rate of export duty (damper), out-of-quota rate – 50%, but not less than 100 euros per ton. The corresponding draft decree of the russian government will be prepared in the near future. The official forecast of export potential for grain this season is 55-60 million tons. ...

Source: UkrAgroConsult