From today, the export duty on wheat from the Russian Federation has been reduced to 4,283.2 rubles per ton from 4,719.4 rubles, the Ministry of Agriculture reports. The reduction was 9.2%.
The duty on barley has been reduced to 3,083.7 rubles from 3,977.6 rubles per ton, and on corn to 886.5 rubles from 1,174.6 rubles per ton.
The duties were calculated based on indicative prices: $309.5 per ton for wheat (a week earlier also $309.5), $267.9 for barley ($278.4), $221.9 for corn ($221.4).
The new fees will be in effect through January 31st.
From July 2022, duties are determined in rubles. The base price for calculating the export duty for wheat was set at 15 thousand rubles per ton, for barley and corn – 13.875 thousand rubles per ton. The duty is 70% of the difference between the base and indicative price.
From June 2, 2021, the Russian Federation introduced a grain damper mechanism, which provides for floating duties on the export of wheat, corn and barley and the return of funds received from them to subsidize agricultural producers. The amount of duties is calculated weekly based on price indicators based on the prices of export contracts that are registered on the Moscow Exchange.
