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Russia to lower export duty on wheat to $41.5 per metric ton from January 15

The duty on barley will be 2,542.9 rubles ($24.86) against 2,220.1 ($21.7) rubles set earlier

MOSCOW, January 10. /TASS/. The duty on wheat exports from Russia will stand at 4,245 rubles ($41.5) per metric ton from January 15, 2024, according to the Ministry of Agriculture.

Earlier, the government set duty on wheat exports for January 13 and 14 in the amount of 4,346.1 rubles ($42.5) per ton, the ministry said.

The duty on barley will be 2,542.9 rubles ($24.86) against 2,220.1 ($21.7) rubles set earlier. The duty on corn will be increased to 4,436.4 rubles ($43.4) from 4,366.5 rubles ($42.7) per ton.

The export duty rate for wheat is calculated based on an indicative price of $240.2 per ton, for barley - $204.7 per ton, for corn - $231.7 per ton.

The floating duty on Russian grain exports is effective from June 2, 2021. The Ministry of Agriculture determines the amount of the duty for a period of one week. Duties were calculated in dollars before July 1, 2022 and then were converted to rubles.

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