Source: Oleoscope (Russia)
The Ministry of Agriculture of the Russian Federation has announced new customs duty rates effective from March 19 to March 25, 2025, which will see a reduction in duties on all grain crops.
Specifically, the changes are as follows:
- Wheat duties will decrease from 2444.4 rubles to 2403.0 rubles per ton.
- Barley duties will lower from 874.8 rubles to 761.9 rubles per ton.
- Corn duties will decline from 1925.9 rubles to 1803.6 rubles per ton.
The indicative prices for these crops are:
- Wheat is priced at $243.4 per ton (a slight decrease from $241.9 the previous week).
- Barley remains unchanged at $204.0 per ton.
- Corn is also steady at $220.9 per ton.
The base prices for these commodities remain consistent at Br18 thousand per ton for wheat, Br16.875 thousand per ton for both barley and corn.
These new duty rates will remain in effect until March 25, inclusive. The duty is determined as 70% of the difference between the indicative and base prices and is recalculated on a weekly basis.