Source: Oleoscope (Russia)
The Russian Ministry of Agriculture has set new customs duties for the period from September 25 to October 1. The export duty on wheat will be increased again from 956.9 to 1076.7 roubles per ton (+ 119.8 roubles).
The duty on barley remains at zero, while the duty on corn is reduced by 153.6 rubles (34.4%): from 446.3 to 292.7 rubles per ton.
The duties for next week have been calculated on the basis of target prices per ton:
- Wheat – $214.1 ($214.1 the previous week);
- Barley – $183.6 ($181.5 the previous week);
- Corn – $189.5 ($193.6 the previous week).
The basic export prices for wheat are 18 thousand roubles, for barley and maize 16,875 roubles.
The duty amounts to 70% of the difference between the base price and the target price. The target prices are based on the prices of export contracts registered on the Moscow Stock Exchange.
