The Union of Exporters expects the revival of wheat supplies from Russia with new duties

Published 2021년 5월 31일

Tridge summary

The Ministry of Agriculture in Russia has announced the export duties for wheat, corn, and barley from the country for the period of 2 to 8 June, as part of the 'grain damper' mechanism. The rates are set at $28.1, $39.6, and $52.2 per ton for wheat, barley, and corn respectively. From 2 June, a flexible export duty will be imposed on these crops, calculated as 70% of the price difference between the indicative and base prices. The funds collected from these duties will be subsidized back to the producing regions. From 15 February to 30 June, a quota of 17.5 million tons has been set for the export of wheat, rye, barley, and corn, with specific export duties for each crop within the quota.

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

Original content

The Ministry of Agriculture on Friday published the rates of duties on the export of wheat, corn and barley from Russia, which will operate from 2 to 8 June as part of the "grain damper" mechanism. The export duty on wheat will be $ 28.1 per ton, on the export of barley - $ 39.6, corn - $ 52.2. "The published rates are in the range of exporters' expectations and have already been taken into account in current prices. We expect some revival of wheat exports, as the duty rate will be halved, and the balances of agricultural producers are still at a high level," Zernin said. In Russia, from June 2, a flexible export duty on wheat, corn and barley will be earned, which will operate within the framework of the "grain damper" mechanism. The duty will be 70% of the difference between the indicative price (arithmetic average of daily price indicators) and the base price. The base price for wheat is set at $ 200 per tonne, for corn and barley at $ 185. To calculate the flexible duty on ...

Source: Agrovesti