Russia: Wheat export duties to nearly triple

Follow-up - INA

The Russian Ministry of Agriculture announced that customs duties on wheat exports from Russia will double for the period from August 21 to 27 by 3.2 times to 828.4 rubles per ton (about $9.2).

According to data from the Russian Ministry of Agriculture, customs duties on corn exports will also triple to 1,033.6 rubles. 

Customs duties on wheat exports from Russia for the period from August 14 to 20 are 257.3 rubles per ton, the lowest level since 2021, while for corn, the duties for the mentioned period are 344.5 rubles per ton.

Earlier, the International Grains Council improved its forecast for wheat exports from Russia for the current agricultural year and expected that Russia, the world's largest wheat exporter, will account for a quarter of global wheat exports for the first time.

The organization expects Russia to export 53.1 million tons of wheat this year, after it expected 52.1 million tons in April. The new indicator is the highest figure for wheat exports in modern Russian history, and will be 10% higher than last year.


Source: RT