The export tariff on wheat from the Russian Federation will be reduced by three times, to 99.1 rubles/ton, starting from October 22.

The export duty rate on wheat from Russia as of October 22 is 99.1 rubles per tonne, down from 318.6 rubles a week earlier, according to the Ministry of Agriculture. Thus, it has decreased threefold. The duty rates on barley and corn remain at zero. The rates were calculated based on indicative prices: $225.5 per tonne for wheat ($225.4 for the previous period), $193.6 for barley ($196.5), and $215.7 for corn ($216.4). These rates will be in effect until October 28 inclusive. The Russian Federation introduced the grain damper 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 based on the prices ...