Tariff rates on the export of wheat, barley, and corn from the Russian Federation will again be zero from August 20.

INTERFAX.RU - Tariffs for the export of wheat, barley, and corn from Russia will be zero for the second consecutive week starting August 20. This calculation was presented by the Ministry of Agriculture on Saturday. The rates were calculated based on indicative prices: $224 per tonne for wheat ($223.5 for the previous period), $203.2 for barley ($199.7), and $218.7 for corn ($220). The new rates will be in effect until August 26. Russia introduced a grain buffer mechanism on June 2, 2021, which provides for floating tariffs on the export of wheat, corn, and barley and the return of funds received from them to subsidize agricultural producers. The size of the tariffs is calculated weekly based on indicators based on the prices of export contracts, which are registered on the Moscow Exchange. Initially, the tariff rates were calculated in dollars. Since July 2022, they have been determined in rubles. The tariff is 70% of the difference between the base and indicative prices. ...