The export tariff on wheat from the Russian Federation will increase by 9.3% starting from November 19.

The export duty rate on wheat from the Russian Federation will be 202.7 rubles per tonne from November 19, up from 185.5 rubles per tonne the previous week, the Ministry of Agriculture reported. Thus, it will increase by 9.3%. The duty rates on barley and corn will remain at zero. The rates were calculated based on indicative prices: $225.1 per tonne for wheat ($226.6 for the previous period), $194.6 for barley ($200.3), and $212.6 for corn ($212.1). The new rates will be in effect until November 25 inclusive. The Russian Federation introduced the grain buffer mechanism on June 2, 2021. It provides for floating duties on the export of wheat, corn, and barley and the return of funds received from them to subsidize agricultural producers. The size of the duties is calculated weekly based on indicators ...