Source: Oleoscope (Russia)
According to the Ministry of Agriculture, the tariff rate for wheat exports from Russia will be 906.4 rubles per ton from September 11, compared to 1,115.7 rubles a week earlier. It will therefore fall by almost 19%.
The duty on barley will remain at zero, while the duty on maize will fall to Rs 502.7 crore from Rs 724.5 crore per tonne in the previous week.
The rates were calculated based on benchmark prices: $214.3 per tonne for wheat ($214.1 in the previous week), $180.7 for barley ($178.7) and $195.4 for corn ($195.7).
From June 28, 2024, the base price for wheat will be 18,000 rubles, for barley and corn – 16,875 rubles per ton.
These prices are valid up to and including September 17.
As previously reported, the Ministry of Industry and Trade does not expect an extension of the flexible export tariffs, which are valid until the end of 2024. “At the moment, there is no decision on the extension of export duties. Therefore, we assume that they will expire on December 31,” said Deputy Head of Department Roman Chekuzhov on the sidelines of the Eastern Economic Forum.
It should be recalled that the Russian government has introduced flexible export duties on a wide range of goods, which are linked to the ruble exchange rate from October 1, 2023 to the end of 2024. The level of duties varies between 4% and 7% depending on the exchange rate of the national currency. For a dollar value of 80 roubles and below, the duty rate is zero. The flexible export duty rate linked to the ruble exchange rate will remain at 4.5% from September 1 to 30.