Russia: expectations for changes of the wheat export duties slowed down grain exports – expert

Source

APK-Inform

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In September, the shipment volumes of grains in the deep-sea ports of Russia will total nearly 1.54 mln tonnes, which will be somewhat lower compared with the record index in August 2015 (1.97 mln tonnes) and September 2014 (1.69 mln tonnes), declared Igor Pavensky, Deputy Director of the strategic management department of Rusagrotrans CJSC, on September 29.

At the same time, he noted that the previous forecast totaled nearly 1.74 mln tonnes. But several vessels in the Russian ports will likely be shipped in October, to start working with new, more comfortable mechanism of the export duties calculating.

Also, he reminded that in case of approval by the Government of the Russian Federation of the proposed increasing of the "deductible" part to 6`500 RUR/t as opposed to the current index of 5`500 RUR/t, the RUR prices for wheat (on terms FOB), which are charged, will raise to 13`000 RUR/t, against the current level of 11`000 RUR/t.

But I.Pavensky believes that the general grain exports in September will break the record for the reporting month. Due to delaying of the export declarations clearance, the official exports in September may reach 4.3-4.5 mln tonnes, against 3.8 mln tonnes in September 2011 and September 2014. The share of wheat in September grain exports will total nearly 3.6-3.8 mln tonnes, barley - 0.42 mln tonnes, corn – 0.25 mln tonnes.

But I.Pavensky estimated the actual volume of Russian grain exports in September at 3.3-3.5 mln tonnes, including 2.6-2.8 mln tonnes of wheat. In October, the reporting index will reduce to almost 3.2 mln tonnes.

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