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MIL OSI Translation. Region: Russian Federation –

09/22/2021

The export duty on wheat from September 22 has been reduced to $ 50.9 per ton from $ 52.5 (this rate was in effect until September 21), follows from the data of the Ministry of Agriculture of the Russian Federation.

The duty on barley was reduced to $ 31 from $ 33.1 per ton, on corn – to $ 47.8 from $ 49. These rates will be valid until September 28th.

The fees are calculated based on indicative prices. For wheat, the price was $ 272.8 per ton ($ 275 a week earlier), for barley – $ 229.4 per ton ($ 232.3), for corn – $ 253.4 per ton ($ 255).

Since June 2, the Russian Federation has introduced a grain damper mechanism, which provides for floating duties on the export of wheat, corn and barley and the return of funds received from them to subsidize agricultural producers.

The amount of duties is calculated weekly based on price indicators based on the prices of export contracts, which are registered on the Moscow Exchange. The cut-off price for wheat is $ 200 per tonne, for corn and barley – $ 185 per tonne. The amount of the duty is 70% of the excess of this indicator.

According to the Ministry of Agriculture, grain exports in the past agricultural year (ended June 30) amounted to 49 million tons, including 38 million tons of wheat. The forecast for the coming agricultural year is 51 million tons.

A source: Interfax

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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.

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