The Ministry of Agriculture of the Russian Federation does not plan to adjust the export duty on grain

Published 2023년 3월 7일

Tridge summary

The Russian Ministry of Agriculture plans to maintain the current export duty on grain until the end of the agricultural year in June 2023 and will not increase grain purchases for the intervention fund. With a record harvest, Russia expects to export around 55-60 million tons of grain and has sufficient carry-over balances. The ministry also discussed the stable prices of sugar in the domestic market and addressed the challenges with imported agricultural machinery, including the reduction in participation of foreign companies and the increase in domestic equipment costs. The ministry is considering measures to develop domestic production and make partial imports available, while also addressing the need for imported spare parts for farmers' equipment.

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Original content

The Ministry of Agriculture of the Russian Federation does not plan to adjust the export duty on grain until the end of the current agricultural year (through June 30, 2023) and increase grain purchases for the intervention fund. "I believe that the duty regulates itself, no adjustments should be made before the end of this agricultural year. The duty must be in effect," Agriculture Minister Dmitry Patrushev said in an interview with Kommersant published on Tuesday. According to him, last year's record harvest will allow exporting a serious volume - about 55-60 million tons of grain according to the results of the agricultural year. "Carry-over balances will be significant - about 30 million tons, more than the average annual figures. We will work on their implementation," he said. "Floating" duties on the export of wheat, barley and corn were introduced in the Russian Federation from June 2, 2021. The base price for calculating the duty for wheat is set at 15 thousand rubles per ...

Source: Zol