The Government of the Russian Federation adopted the decree on a new mechanism for calculating of the export duties on wheat, which comes into effect since October 1. Dmitry Medvedev, Prime Minister, signed the reporting decree #1032 dd. September 29, declared the press-service of the Government on September 30.
According to the document, the export duties will total 50% of the customs value minus 6`500 RUR/t, but not less than 10 RUR/t.
As a reminder, the previous variant of the duties totaled 50% of the customs value minus 5`500 RUR/t, but not less than 50 RUR/t.
The Ministry of Economic Development prepared the reporting decree. The adopted document will support the export potential of Russian grains, balance the domestic market of agricultural products, and the required profitability of grain producers.
