Source: Oleoscope (Russia)
Starting March 5, the export duty on wheat from Russia will see another reduction, decreasing by 20.6% to 2,177.7 rubles per ton, down from 2,742.6 rubles from the previous week, as stated by the Ministry of Agriculture. The barley duty will nearly halve, dropping to 680.9 rubles from 1,169.2 rubles per ton, while the corn duty will be adjusted to 1,715.8 rubles from 2,301.9 rubles, compared to the week prior.
The base prices remain stable, set at 18,000 rubles per ton for wheat, and 16,875 rubles per ton for both barley and corn.
The indicative prices are as follows:
- Wheat: $241.3 per ton (up from $241.1 last period);
- Barley: $204 (same as the previous period);
- Corn: $220.9 (down from $221.8).
These new duty rates will be effective until March 11, inclusive.
It is important to note that the duty is calculated weekly based on 70% of the difference between the base and indicative prices.