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Russia to cut wheat export duty to $39.77 per ton from December 18

The export duty for wheat is calculated on the basis of the indicative price of $236.5 per ton, $197.8 per ton for barley, and $229 per ton for corn

MOSCOW, December 13. /TASS/. The export duty on wheat and meslin (a mixture of wheat and rye) from Russia will be lowered to 4,136.5 rubles ($39.77) per ton from December 18, 2024 compared to the current rate of 4,871.5 rubles ($46.84) per ton, the Russian Agriculture Ministry said.

The duty on barley will be 2,185.3 rubles ($21.01) compared to 2,229.1 rubles ($21.43) previously. The duty on corn will be reduced from 4,513.2 rubles ($43.4) per ton to 4,393.3 rubles ($42.24) per ton.

The export duty for wheat is calculated on the basis of the indicative price of $236.5 per ton, $197.8 per ton for barley, and $229 per ton for corn.

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 ($9.62) per ton. Thus, the basic export prices for wheat and meslin were increased from 17,000 rubles ($163.46) to 18,000 rubles ($173.08), for barley and corn - from 15,875 rubles ($152.64) to 16,875 rubles ($162.26).

In 2021, the Russian government will introduce 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 using figures based on the prices of export contracts registered on the Moscow Exchange.

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