From February 19, the export duty on Russian wheat will decrease by 8.7%

New rates of duties on grain exports will come into force in Russia on February 19, 2025. According to the Russian Ministry of Agriculture, the duty on wheat exports, after a short-term increase, will decrease by 8.7%, amounting to 3,636.3 rubles per ton, compared to 3,984.2 rubles in the previous week. This change also affects other grain crops: the duty on barley will fall to 2,202.4 rubles from 3,062.3 rubles, and on corn - to 3,373.3 rubles from 3,710.2 rubles. As explained by the agricultural department, the reduction in duties is due to a change in indicative prices for grain. In particular, the indicative price of wheat was $241.2 per ton, which is slightly higher than in the previous period ($240.6). The price of barley fell to $208.2 from $215.8, while for corn it remained practically at the same level — $225.6 compared to $225.2. In addition, on February 15, a quota for wheat exports in the amount of 10.6 million tons came into effect in Russia, while the quotas for ...