The duty on barley will cease to be zero. For the first time since October 2023

The Russian Ministry of Agriculture has established new customs duty rates for grain. The export duty on wheat will decrease by 358 rubles, the duty on barley is set at 169.2 rubles for the first time, and the duty on corn will decrease by 328.9 rubles. The duties are calculated based on indicative prices per ton: wheat - $251.1, barley - $182.9, corn - $190.6. Starting from July 6, 2022, the duties are calculated in rubles and amount to 70% of the difference between the base and indicative prices. The base price for duty calculation has increased, which will allow reducing the export duty rate by 1.4 thousand rubles per ton.

20 January 2024

New rates of customs duties are set from January 24 to 30, reports the Ministry of Agriculture of the Russian Federation.

Export duty:

for wheat - will decrease by 358 rubles: from 3946.5 rubles to 3588.5 rubles per ton;
for barley - set at 169.2 rubles per ton for the first time since October 25, 2023;
for corn - will decrease by 328.9 rubles: from 973.1 rubles to 644.2 rubles per ton.
Duties for the next week were calculated based on indicative prices per ton:

wheat - $251.1 ($250.7 a week earlier);
barley - $182.9 ($172.3 a week earlier);
corn - $190.6 ($191.2 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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