The Russian Ministry of Agriculture has announced a reduction in the export duty on wheat, setting the rate at 2,403 rubles per metric ton for the period of March 19 to 25, 2025. This marks a 1.7% decrease from the previous duty of 2,444.4 rubles per ton. The indicative price used for this calculation is $243.4 per ton.
This adjustment is part of Russia’s floating export duty mechanism, introduced in 2021, which aims to stabilize domestic grain prices and ensure food security. The mechanism calculates duties as 70% of the difference between the indicative price and a base price, with the indicative price derived from export contracts registered on the Moscow Exchange. As of July 1, 2024, the base price is set at 18,000 rubles for wheat.
In addition to wheat, export duties for other grains have also been adjusted. The duty on barley exports will decrease to 761.9 rubles per ton, down from the current 874.8 rubles, while the duty on corn exports will be reduced to 1,803.6 rubles per ton from 1,925.9 rubles. The indicative prices for barley and corn are $204 and $220.9 per ton, respectively.
These adjustments reflect the Russian government’s ongoing efforts to balance domestic supply with export demands, ensuring stability in both local and international markets. By implementing flexible export duties, Russia aims to mitigate domestic price volatility while maintaining its position as a leading grain exporter.
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