The export duty on wheat from June 23 will increase by $ 4.8 per ton, to $ 38.1, indicated on the website of the Ministry of Agriculture. The customs duty rate is calculated from the indicative price of $ 254.5 per ton. The export customs duty rate on corn increased to $ 50.2 per tonne (+ $ 2), the barley export duty rate will remain at the level of $ 39.6 per tonne.
The new rates will be valid until June 29. The next rate calculation will be published on June 25th. Rates are published on the last business week and apply from the third business day of the next week.
A floating duty mechanism for grain exports from Russia was introduced in April. The duty on wheat is 70% of the difference between the export price and $ 200. The same formula, but with a base price of $ 185 per ton, applies to barley and corn.
Earlier, the head of the Ministry of Economy, Maxim Reshetnikov, said that export duties are intended to reduce the impact of world prices on our economy. According to him, the mechanism will create resources for producers and increase investment in the Russian agro-industrial sector.