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Export duty on wheat from Russia reduced by 0.1% from March 22

Published Mar 22, 2023

Tridge summary

The export duty on wheat from the Russian Federation has been reduced by 0.1% since March 22, to 5,327.9 thousand rubles from 5,344 rubles, the Ministry of Agriculture said. The decrease was 0.1%. The duty has been reduced for the second week in a row, for the first time since January 25. The duty on barley was increased to 3,298.2 rubles from 3,016.6 rubles, on corn - up to 2,646.9 rubles from 2,615.3 rubles per ton. The duties were calculated based on indicative prices: $298.9 per ton for wheat ($300 a week earlier), $245.7 for barley ($241.1), $233.4 for corn ($233.5). The new duties will be in effect through March 28, inclusive. From July 2022, duties are determined in rubles. The base price for calculating the export duty for wheat is set at 15 thousand rubles per ton, for barley and corn - 13.875 thousand rubles per ton. The duty is 70% of the difference between the base and indicative price.

Original content

From June 2, 2021, the Russian Federation introduced a grain damper mechanism, which 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 amount of duties is calculated weekly based ...
Source: Milknews
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