The customs duties on the exports of Russian wheat, which new mechanism to come into effect since July 1, will act only in the terms of sharp fluctuations on the foreign exchange market, declared Alexander Tkachev, Minister of Agriculture of the Russian Federation, on May 26.
According to him, if the USD exchange rates rise to the level of 60-70 RUR, the new formula for calculating of wheat export duties will enter into effect, which will begin cutting the grain price. It will work if the market collapses. But the Minister hopes that such pessimistic situation will not occur.
At the same time, A.Tkachev stressed that if the current foreign exchange rates do not change, the customs duties on wheat exports will not actually influence the market.
