The export duty on wheat from the Russian Federation will increase to 232.3 rubles per tonne as of November 26.

The export duty rate on wheat from the Russian Federation will be 232.3 rubles per tonne from November 26, up from 202.7 rubles per tonne the previous week, the Ministry of Agriculture reported. Thus, it will increase by 14.6%. The duty rates on barley and corn will remain at zero. The rates were calculated based on indicative prices: $226.4 per tonne for wheat ($225.1 in the previous period), $207.4 for barley ($194.6), and $212.2 for corn ($212.6). The new rates will be in effect until December 3, inclusive. The Russian Federation introduced the grain buffer mechanism on June 2, 2021. It provides for floating export duties on wheat, corn, and barley and the return of the funds received to subsidize agricultural producers. The duty size is calculated weekly based on ...