The Agricultural Ministry of Russia updated calculated rates of export duties for wheat, barley and corn, as preparing for implementation of grain damper mechanism from June 2.
As of April 23, with the indicative prices of wheat and meslin at 267.9 USD/t the export duty is 47.5 USD/t. They were set at 275.3 USD/t and 52.7 USD/t the week ago.
With the indicative prices of barley at 237.9 USD/t (240.3 USD/t the week ago) the export duty is 37 USD/t (38.7 USD/t). With the indicative prices of corn at 250.9 USD/t (249.2 USD/t) the export duty is 46.1 USD/t (44.9 USD/t).
“Calculated rates of export duties will come into force on the third working day after their publishing (but not earlier than June 2, 2021) and will remain valid until the next rates are applied”, - the message says.
Since February 5, the market participants have provided the information about signed contracts to the Moscow Stock Exchange to calculate the indicative price. Basing on this information, the Ministry of Agriculture determines the export duty for one week.
