Export duties on barley will be reduced from October 18. Duty rates on corn and wheat will increase

The Ministry of Agriculture of the Russian Federation sets new customs duties on exported grain crops. The price of wheat will increase by 490.7 rubles, barley will decrease by 393.5 rubles, and the price of corn will rise by 151 rubles.

13 October 2023

New rates of customs duties are set from October 18 to 24, reports the Ministry of Agriculture of the Russian Federation.

Export duty:

for wheat - will increase by 490.7 rubles: from 5244 rubles to 5734.7 rubles per ton;
for barley - will decrease by 393.5 rubles: from 1166.1 rubles to 772.6 rubles per ton;
for corn - will increase by 151 rubles: from 3120.8 rubles to 3271.8 rubles per ton.

Duties for the next week were calculated based on indicative prices per ton:

wheat - $251.2 ($248.8 a week earlier);
barley - $169.3 ($178.4 a week earlier);
corn - $204.9 ($206.8 a week earlier).

From July 6, 2022, grain duties are calculated in rubles rather than dollars. The duty is 70% of the difference between the base and indicative prices. The indicators are based on export contract prices that are registered on the Moscow Exchange.

The base price for calculating the export duty on wheat was revised from June 7, 2023 and increased by 2 thousand rubles, amounting to 17 thousand rubles per ton for wheat, 15,875 rubles per ton for barley and corn. As noted earlier in the Ministry of Agriculture, this decision will reduce the export duty rate by 1.4 thousand rubles per ton.

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Export duties on barley will be reduced from October 18. Duty rates on corn and wheat will increase

The Ministry of Agriculture of the Russian Federation sets new customs duties on exported grain crops. The price of wheat will increase by 490.7 rubles, barley will decrease by 393.5 rubles, and the price of corn will rise by 151 rubles.

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