Volga Baikal AGRO News Update on the Wheat Export Duty !!!

From January 26, the export duty on wheat from the Russian Federation will decrease to $95.8 from $97.5 per ton

Volga Baikal AGRO News Update on the Wheat Export Duty !!!

Export duty on wheat from Russia will decrease up to $95.8 per ton (from $97.5 per ton) from January 26, 2022. The duty on barley will decrease to $74.4 from $79 per ton, on corn – will increase to $50.6 from $46.1 per ton.

the Ministry of Agriculture said.

The new duty rates will be in effect until February 01, 2022.

Fees are calculated based on the indicative prices. For wheat, the price was $336.9 per ton ($339.3 – to calculate the previous duty), for barley – $291.3 ($297.9), for corn – $257.4 ($250.9) per ton.

From June 02, 2021, the Russian Federation 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 that are registered on the Moscow Exchange. The cut-off price for wheat is $200 per ton, for corn and barley – $185 per ton. The amount of the fee is 70% of the excess of this indicator.

According to the forecast of the Ministry of Agriculture, grain exports this agricultural year (July 2021 – June 2022) will amount up to 45-48 million tons. Last agricultural year (ended June 30, 2021), 49 million tons were exported, including 38.4 million tons of wheat.



Volga Baikal AGRO News Update ......

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