Russia can extend the zero export duties on wheat for 2 years – expert

Source

APK-Inform

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The force of the zero export duties on wheat from Russia will be possibly extended for additional two years, declared the President at the Russian Grain Union (RGU), Arkadiy Zlochevskiy on April 10.

The authorities zeroed down the duties, but not canceled them yet. Nearly three weeks ago, the Russian Grain Union sent another letter to the Government with a request to cancel the reporting duties. But the Ministry of Agriculture prepared somewhat other proposals under consideration, which will extend the zero duties for additional two years, said A.Zlochevskiy.

But in his opinion, the decision to extend the zero duties will make adversely effect on investments in the industry. The possible prolongation means that the sword of Damocles for investments will continue hanging above the market. It should be either canceled and the market to be informed that the authorities will never apply such mechanism, in order to raise the investments to improve qualitative indices. Or the market will not see any investments at all, said the head of the Russian Grain Union.

As a reminder, in late March 2018 the Minister of Agriculture, Alexander Tkachev said that the Government will either extend or cancel the zero export duties, which terms end on July 1.

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