Source: Oleoscope (Russia)
Export duties have been reduced for all major grain crops from February 5 to February 11, 2025. The new rates were announced by the Russian Ministry of Agriculture.
Export duty on wheat will be reduced by 488.5 rubles: from 4430.1 to 3941.6 rubles per ton;
- barley – will decrease by 395.3 rubles: from 3407.8 to 3012.5 rubles per ton;
- corn – will decrease by 403.8 rubles from 4659.1 rubles to 4255.3 rubles per ton.
Indicative prices amounted to:
- wheat – $240.9 (240.9 a week earlier);
- barley – $215.3 (215.3 a week earlier);
- corn – $234.0 (233 a week earlier).
Basic export prices have increased by 1,000 rubles per ton, wheat and meslin have been increased from 17,000 rubles to 18,000 rubles, barley and corn – from 15,875 rubles to 16,875 rubles. This will reduce duty rates by an average of 700 rubles per ton to stimulate the export of such products and support agricultural producers, explained in the Cabinet.
