Source: Oleoscope (Russia)
The tariff rate for wheat exports from Russia will be 828.4 roubles from August 21, reports the Ministry of Agriculture. This means that it will increase 3.2 times from the historical minimum of 257.3 roubles.
The amount of customs duties is calculated weekly on the basis of indicators based on the prices of export contracts registered on the Moscow Exchange. The duty amounts to 70% of the difference between the base price and the indicative price. At the end of June, the Russian government adjusted the calculation of export duty rates for grain: The basic export prices were increased by 1,000 roubles per tonne for wheat, meslin, barley and maize. The basic export prices for wheat and meslin were raised from 17,000 roubles to 18,000 roubles, and for barley and maize from 1,875 roubles to 16,875 roubles.
The target price was USD 214.5 per tonne for wheat (USD 214.8 a week earlier), USD 180.9 for barley (USD 179.8) and USD 205.2 for maize (USD 203.1).
In addition, the Subcommittee on Tariff and Non-Tariff Regulations of the Government Commission today approved the extension of export duty rates for sunflower seeds (by 50%, but at least 32 thousand rubles per ton) and soybeans (by 20%, but at least 100 US dollars per ton), as well as the introduction of export duties on rapeseed in the amount of 30%, but at least 165 euros per ton for the period from September 1, 2024 to August 31, 2026.
The current rates for oilseeds will no longer apply from August 31.