Russia increases duties on grain exports




In Russia, from September 13, the duty rate for wheat exports will increase to 4`493.7 RUR/t from 4`007.6 RUR/t (+12.1%) a week earlier, the Russian Ministry of Agriculture reports.

The duty on barley will increase even more significantly – 1.6 times, to 931.7 RUR/t versus 574.8 RUR/t, for corn – up to 2`465.2 RUR/t versus 1`954.9 RUR/t a week earlier.

The Ministry of Agriculture clarified that the rates were calculated based on indicative prices: 241.6 USD/t for wheat (238.6 USD/t a week earlier), 177.5 USD/t for barley (versus 175.3 USD/t), and 200.1 USD/t for corn (versus 196 USD/t).

This level of duties will be valid until September 19.