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Russia to lower wheat export duty to $5.17 per tonne from August 7

The export duty rate on wheat is calculated based on an indicative price of $216.7 per tonne, on barley - $177.9 per tonne, on corn - $194.8 per tonne

MOSCOW, August 2. /TASS/. The duty on wheat and meslin (a mixture of wheat and rye) exports from Russia will be lowered to 444.4 rubles ($5.17) from August 7, 2024, according to the Russian Ministry of Agriculture.

The duty on barley will remain at zero, as will the duty on corn.

The export duty rate on wheat is calculated based on an indicative price of $216.7 per tonne, on barley - $177.9 per tonne, on corn - $194.8 per tonne.

In 2021 the Russian government introduced a variable duty on grain exports. The duty amounts to 70% of the difference between the basic price and the indicative price. It is calculated weekly on the basis of indicators based on the prices of export contracts registered on the Moscow Exchange.

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