Export duties on wheat, barley, and corn from Russia will be zero from April 29; on sunflower oil exports, they will be reduced by 3.5 times.

The export duty rates on wheat, barley, and corn will remain at zero for the second consecutive week starting from April 29 and will be in effect until May 5, inclusive, according to the Ministry of Agriculture. The rates were calculated based on indicative prices: $234.7 per ton of wheat ($234.4 for the previous period), $224 per ton of barley ($223.8), and $217.8 per ton of corn ($220.8). In connection with the May holidays, the department clarified that the rates it will announce on April 30 will be calculated for the period from May 6 to May 13. The next period of duty application is from May 14 to May 19, with the rates to be announced on May 8. 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 based on the prices of export contracts, ...