Volga Baikal AGRO NEWS Update on the Wheat Duties Situation !!!
According to the RF Agriculture Ministry Information the duty on wheat exports will rise up to $ 57.8 / ton from October 06, 2021.
Previously, the rate was $53.5/t. The duty on barley will increase from $35.3 to $43.1 per ton, on corn, on the contrary, it will decrease from $35.3 to $43.1. The new rates will be valid until October 12. The duty rate for wheat and meslin is calculated based on an indicative price of $282.6/ton, for barley – at a price of $246.6/ton for corn – $249.7/ton.
In September, more than 6 million tons of grain were exported from Russia. Of these, wheat accounted for 5.4 million tons, barley – 552 thousand tons, corn – 64 thousand tons. Compared to September last year, the export growth of all cereals amounted to 15.6%. From July to September, grain exports increased from 14.8 million tons in the same period last year to 15.6 million tons. Iran has become the main importer of Russian wheat this year, the country has purchased about 4 million tons.
In September, daily shipments of grain exceeded the figures of August and September last year, the September figure was 202 thousand tons, the August figure was 193 thousand tons, the expert continues. The demand is at a fairly high level. Usually at the end of autumn-winter there is an active growth of exports.
Demand for Russian grain will remain at a high level, as prices on world markets have been rising over the past week. The average export value of Russian wheat is now $305 per ton FOB. Competitiveness relative to French wheat is at a traditionally high level: Russian wheat is 1.5% cheaper than French wheat.