Export duty on Russian wheat will increase to $87 per ton
Wheat
Russia
Published Mar 26, 2022
Original content
The export duty on Russian wheat will increase from $86.4 to $87 per ton from March 30, according to the materials of the Ministry of Agriculture. The growth is observed for the second week in a row after falling during the previous nine weeks. The duty on barley will decrease from $79.6 to $75.8 per ton, on corn it will increase from $53.2 to $58.3 per ton. Rates will be valid until April 5th. Fees are calculated based on indicative prices. For wheat, the price was $324.3 ($323.5 for calculating the previous duty), for barley - $293.1 ($298.8), for corn - $268.3 ($261.1) per ton. Eduard Zernin, chairman of the board of the Union of Grain Exporters, told Agroinvestor that, given the inertia of the mechanism for calculating reference indices, the increase in the duty will continue further. “I think we will see $100/t and higher duties in the current season. This is the meaning of the price damper - to protect the domestic market from rising world prices through an increase in ...
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