Russia has established a new export duty on wheat from January 31 - 363.2 rubles per ton

According to information published by the Ministry of Agriculture of the Russian Federation, from January 31, 2024, the export duty on wheat and meslin (a mixture of wheat and rye) from Russia will be increased to 3,630.2 rubles per ton, compared to the previous figure of 3,588.5 rubles per ton. a ton last week.

The duty on barley exports will be 512 rubles per ton, compared to the previous figure of 169.2 rubles per ton. The corn export duty will also be increased to 926 rubles per ton, compared to the previous figure of 644.2 rubles per ton.

The calculation of the export duty rate for wheat is based on an indicative price of $251.3 per ton, for barley – $188.1 per ton, for corn – $194.8 per ton.

A system of “floating” duties on grain exports from Russia was introduced on June 2, 2021. The Ministry of Agriculture determines the amount of duty every week based on the indicative price, taking into account data on concluded contracts on the Moscow Exchange. Until July 1, 2022, duties were calculated in dollars, after which they were converted to rubles.