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Export duty on wheat from Russia will increase by 1.9% from February 1

Updated Jan 27, 2023
The export duty on wheat from the Russian Federation from February 1, 2023 will increase to 4,365.3 rubles from 4,283.2 rubles per ton, the Ministry of Agriculture reports. Growth will be 1.9%. The duty on barley will increase to 3,174.3 rubles from 3,083.7 rubles, on corn - up to 1,186.2 rubles from 886.5 rubles per ton. The duties were calculated based on indicative prices: $308.8 per ton for wheat ($309.5 a week earlier), $267.7 for barley ($267.9), $226.4 for corn ($221.9). The new duties will be in effect through February 7, inclusive.
From July 2022, duties are determined in rubles. The base price for calculating the export duty for wheat is set at 15,000 rubles per ton, for barley and corn - 13,875 rubles per ton. The duty is 70% of the difference between the base and indicative price. 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 ...
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