MAKS-2017 airshow yields contracts to over $6bln - Russian ministry of industry and tradeBusiness & Economy July 23, 23:48
Russian consumer rights watchdog chief names cities with highest HIV ratesSociety & Culture July 23, 21:41
Serbian filmmaker Kustirica says Crimea’s reunification with Russia is natural processSociety & Culture July 23, 21:40
Israeli embassy in Amman attacked by terrorists, some people wounded - TVWorld July 23, 21:35
Boxing Day on Red Square sets new Guinness recordSport July 23, 8:33
Joseph Dunford says Russia most military capable country of those posing threat to USWorld July 23, 4:57
Russia’s US envoy Kislyak steps down, his deputy to act as Charg d'Affaires ad interimRussian Politics & Diplomacy July 23, 1:33
Putin greets KamAZ-Master team - winner of Silk Way RallySport July 22, 15:20
Agreements on East Ghouta zone in Syria signed - Defense MinistryWorld July 22, 14:20
MOSCOW, February 1. /TASS/. Russian grain export duty takes effect on Sunday. Grain export duty makes 15% of customs cost of a grain batch plus 7.5 euro, but no less than 35 euro per one tonne.
The government has declared this measure in December 2014 to make Russian grain sales to foreign markets less attractive and to stabilise flour and bread domestic prices.
For instance, a grain tonne cost $265 per tonne at the Chicago Mercantile Exchange in December, whereas the domestic price made 11 thousand roubles ($159). So, export was 50% more attractive than sales on the domestic market.
Following grain supply slump in Russia flour and bread prices hiked in November-December 2014. This growth should stop by April 2015, Deputy Prime Minister Arkady Dvorkovich said in an interview with TASS in January. When grain export duty comes into effect more administrative barriers to make the export slower will be needed no longer, therefore, the government plans to lift them.
Meanwhile, before grain export duty taking effort grain exporters have raised Russian grain export by 30% up to 495 thousand tonnes in first two weeks of 2015 as compared with the same period in 2014.