MOSCOW, September 27. /TASS/. The export duty on wheat and meslin (a mixture of wheat and rye) from Russia will be raised to 1,246 rubles ($13.35) per tonne from October 2, 2024, compared to the current rate of 1,076.7 rubles ($11.54) per tonne, the Russian Agriculture Ministry said.

The duty on barley will reach 190.8 rubles ($2.04). The duty on maize will be raised from 292.7 rubles ($3.14) per tonne to 2,786.2 ($29.86) rubles.

The press service of the Russian Ministry of Agriculture told TASS on September 27, in accordance with the decree of the Russian government, the ministry updated the rates of export duties, including corn, which will be applied from October 2 to October 8. "The indicative prices are calculated on the basis of the price indices of National Mercantile Exchange," the ministry said.

"The calculation of price indicators is based on over-the-counter export contracts registered by market participants on the National Mercantile Exchange in accordance with the calculation principles, which are also published on the exchange's website," the Russian Ministry of Agriculture added.

The export duty for wheat is calculated on the basis of the indicative price of $213.4 per tonne, for barley - $185 per tonne, for maize - $225 per tonne.

At the end of June, the Russian government adjusted the calculation of export duties on grain: the basic export prices for wheat, meslin, barley and corn were increased by 1,000 rubles ($10.72) per tonne. As a result, the basic export prices for wheat and meslin were raised from 17,000 rubles ($182.16) to 18,000 rubles ($192.88) and for barley and corn - from 15,875 rubles ($170.11) to 16,875 rubles ($180.83).

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 taking into account the indicators based on the prices of export contracts registered on the Moscow Exchange.