Source: Оleoscope (Russia)
The export duty rate on wheat from Russia will cease to be zero from August 27 and will amount to 32.1 rubles per ton, according to the Ministry of Agriculture. The zero ruble rate for wheat exports remained in effect for two weeks. Duty rates on barley and corn will remain zero from August 27.
The indicative prices were: $225.2 per ton for wheat ($224 for the previous period), $203.8 for barley ($203.2), and $218.8 for corn ($218.7).
Base prices have not changed and amount to 18,000 rubles per ton for wheat, 16,875 rubles per ton for corn, and 17,875 rubles per ton for barley.
As a reminder, the size of the duties is calculated weekly based on indicators based on the prices of export contracts registered on the Moscow Exchange. The duty is 70% of the difference between the base and indicative prices.
The new rates will be in effect until September 2 inclusive.
The duty on sunflower oil and meal will remain at zero until August 31, but OleoScope analysts have previously calculated the preliminary export duty on sunflower oil and meal in September of this year. Thus, the estimated export duty on oil will preliminarily amount to 5,417.7 rubles per ton of product. The export duty rate on sunflower meal in September will be 1,056.1 rubles per ton.