The Cabinet of Ministers in Russia exempted corn for popcorn from export duties
Maize (Corn)
Russia
Published Jul 2, 2021
Tridge summary
The government has dropped the duty on corn for popcorn. This follows from the ruling published on Wednesday on the official Internet portal of legal information. The document comes into force 30 days after its official publication. Corn exports were subject to a floating duty as part of the grain damper, which is calculated based on price indicators with a cut-off price of $ 185 per tonne. Its size is 70% of the excess of this indicator.
Original content
The government has dropped the duty on corn for popcorn. This follows from the ruling published on Wednesday on the official Internet portal of legal information. The document comes into force 30 days after its official publication. Corn exports were subject to a floating duty as part of the grain damper, which is calculated based on price indicators with a cut-off price of $ 185 per tonne. Its size is 70% of the excess of this indicator. In April, the Ministry of Economic Development drafted a decree to abolish export duties on popcorn corn. The document noted that the domestic grain of corn meets world standards and more than 50% of the production is exported abroad. According to the department, the corresponding measure of customs and tariff regulation will help increase production and export of popcorn. Popcorn consumption in Russia is about 13 thousand tons per year, of which up to three thousand tons are imported to Russia. At the same time, the total annual ...
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