Source: Oleoscope (Russia)
New rates of export duties from February 26 to March 4 were announced by the Ministry of Agriculture of Russia. The rate of duty on wheat exports will be reduced by 25% to 2,742.6 rubles from 3,984.2 rubles per ton a week earlier.
The duty on barley will be reduced to 1,169.2 rubles from 2,202.4 rubles per ton, on corn – to 2,301.9 rubles from 3,373.3 rubles.
Base prices remained unchanged and amounted to 18,000 rubles per ton for wheat, 16,875 rubles per ton for barley and corn. Indicative prices amounted to:
- wheat – $241.1 per ton ($241.2 for the previous period);
- barley – $204 ($208.2);
- corn – $221.8 ($225.6).
Recall, the duty is 70% of the difference between the base and indicative prices and is calculated weekly.