This site has limited support for your browser. We recommend switching to Edge, Chrome, Safari, or Firefox.

Russia raises export tariffs

Русия вдига износните мита
The duty on wheat exports to Russia will be increased to 4,165.9 rubles ($46.51) per tonne from January 11, 2024, up from the current rate of 3,859.7 rubles ($43.09) per tonne, according to Ministry of Agriculture.

The duty on barley will be zero, the duty on corn will increase to 1,431.7 rubles ($15.98), against the previous 1,148.6 rubles ($12.82) per ton.

The export duty rate for wheat is calculated at an indicative price of 250 dollars per ton, for barley - 172.3 dollars per ton, for corn - 195.2 dollars per ton.

Russia has acquired 260,145 tons of grain for its operating fund this year through purchases on the National Commodity Exchange, the Ministry of Agriculture said.

“More than 250,000 tons of grain were added to the state fund this year. The purchases amounted to 260,145 tons of grain: 135,135 tons of soft wheat class 3, 105,975 tons of soft wheat class 4 and 19,035 tons of rye," the ministry said in an official report.

Russian Agriculture Minister Dmitry Patrushev said earlier that the ministry plans to buy up to 2 million tonnes of grain, adding that global grain prices and high yield expectations are putting pressure on domestic grain prices.

We recall that Russia has implemented state interventions in the purchase and sale of grain since 2001 to regulate domestic prices. Last year, 3.08 million tons of grain were purchased for the state intervention fund.

Leave a comment

Please note, comments must be approved before they are published