Latvia bans the import of agricultural products from Russia and Belarus

Latvia

Russia

Regulation & Compliances

Market & Price Trends

Published Feb 28, 2024

Tridge summary

Russia has announced a decrease in wheat export tariffs to $41.26 per tonne from February 28, 2024, while barley duties have increased to $6.2 per tonne and maize has dropped to $9 per tonne. In contrast, the Latvian parliament has approved a ban on the import of agricultural products from Russia and Belarus until July 1, 2025, which could be extended if necessary. This comes after a 59.9% increase in grain product imports from Russia to Latvia in 2023.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Moscow announced that tariffs on wheat exports would be cut to 3,800.6 rubles ($41.26) a tonne from February 28, 2024, according to the agriculture ministry. The duty on barley rose to 571 rubles ($6.2) per tonne, and that on maize fell again to 828.9 rubles ($9) per tonne. The export duty rate for wheat is calculated at an indicative price of $243.5 per ton, for barley - $181.2 per ton, and for corn - $185.2 per ton. At the same time, the Latvian parliament approved amendments to the legislation on agriculture and rural development to ban the import of agricultural products from Russia and Belarus. The amendments, drawn up by several Latvian government ministries, provide for the import of agricultural products and feed originating in Russia and Belarus in Latvia to be banned both directly and through third countries. The ban will remain in place until July 1, 2025 and may be extended if necessary. Comments on the amendments say that as a country bordering Russia, Latvia seeks to ...

Source: Agri