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From October 1, Russia will begin to operate flexible export duties on a wide range of goods linked to the ruble exchange rate.
The measure is temporary and aimed at protecting the domestic market. The duty will range from 4 to 7% depending on the exchange rate of the national currency. At 80 rubles per dollar and below it will be zero. For fertilizers, the duty will be up to 10% depending on the ruble exchange rate.
Rates have been entered, incl. to HS codes:
12 - incl. sugar beet seeds
17 (except for goods classified by codes 1703, 1704 90 300 0, 1704 90 980 0), i.e. for the entire group “Sugar and sugar confectionery”, except for the subgroups “molasses obtained as a result of the extraction or refining of sugar:” and “Confectionery, other”, 23 (except for goods classified by code 2301), i.e. for both beet pulp and molasses pulp
Regulation is applied in order to maintain a rational ratio between the export of goods and domestic consumption.
The decision taken will help protect the domestic market from unjustified price increases. Flexible export duties will remain in effect until the end of 2024.
